Indian iron ore miner NMDC Limited will invest an estimated $284 million to develop Deposit 4 of its iron ore reserves at Bailadila in the central Indian state of Chhattisgarh, a company official said on Monday, October 31.
The official said that production from Deposit 4 will be largely used to feed NMDC’s under-construction 3 million mt per year steel mill at Nagarmar, Chhattisgarh. However, iron ore production in excess of the requirements of its own steel mill will be available for commercial sales.
Production from the deposit will progressively be ramped up to 7 million mt per year, the official said.