more-inFrom doubling its iron ore output in five years to seeking more diamond mines in Madhya Pradesh as well as planning a joint venture foray in Vietnam for tungsten mines, NMDC Ltd is pursuing a multiple-pronged growth strategy. NMDC, which last fiscal had a capital expenditure of ₹3,196 crore, planned to incur a capex of ₹3,500 crore in 2017-18. With regard to diamond mining, he said the company was keen on expanding its presence in Panna, Madhya Pradesh. On the gold mining front, NMDC, which is a majority stakeholder in Legacy Mines in Australia, was evaluating the prospects in different countries. NMDC had in October signed an agreement with Mishra Dhatu Nigam Ltd. (Midhani) for tungsten ore mining and processing.

Source: The Hindu December 06, 2017 15:00 UTC