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INDIA: Construction plans for proposed $246,000,000 iron ore mining production capacity...

PROJECT OVERVIEW:

The local NATIONAL MINERAL DEVELOPMENT CORP. (NMDC) currently operates an iron ore mine with an installed production capacity of 17 million tons per year (t/y). And, the company recently announced that it was planning to increase its output by another 13 million t/y. The cost to complete the upgrade has been pegged at $246,000,000.

According to P.R. Tripathi, NMDC Chairman & Managing Director, his company may eventually reach a capacity of 60 million t/y if the state-owned STEEL AUTHORITY OF INDIA LTD. (SAIL) hands over its captive mines

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