Indian government-run iron ore miner NMDC Limited will invest an estimated $110 million over a three-year period to ramp up output from its Kumaraswamy iron ore mine in the southern state of Karnataka to 10 million mt per year from 7 million mt per year at present, company sources said on Monday, November 21.
The sources said that an export advisory committee (EAC) has already recommended the expansion project and ministry of environment, forest and climate change (MoEFCC) is expected to granted environment clearance soon.
NMDC’s plans to expand capacity have been made possible by a Supreme Court verdict of August 2022, wherein the court permitted a higher production ceiling of 35 million mt per year from 28 million mt earlier for mines in the Bellary district in Karnataka and a higher annual production ceiling of 15 million mt from 7 million mt in the case of mines located in the Chitradurga and Tumkur districts.
NMDC’s Kumaraswamy mines are located in the Bellary district.
The miner has set a production target of 46 million mt for 2022-23.
