NMDC Limited (formerly known as National Mineral Development Corporation) & Mineral Exploration Corporation Limited (MECL) signed a Memorandum of Understanding (MoU) to collaborate & conduct exploration in mutually agreed projects for iron ore, gold, coal, diamond and other minerals in various states.
Objective:
To achieve self-reliance in the field of Mineral Exploration and promote domestic production of previously imported items.
Signed By:
The MoU was signed by Dr. Ranjit Rath, Chief Managing Director (CMD) of MECL & Sumit Deb, CMD of NMDC.
Key Points:
i.The agreement will help in establishing resources, reserves of various minerals, ores & its extraction besides identifying unexplored mining areas.
ii.It will support the Government of India’s ‘Atmanirbhar Bharat Abhiyan’ initiative & aid in the commitment of mineral security of India.
Fact:
As of February 2020, the Government of India holds 69.65% equity in NMDC.
Recent Related News:
i.November 27, 2020, The Ministry of Earth Sciences (MoES) is set to launch an ambitious ‘Deep Ocean Mission’ in the next 3-4 months for underwater exploration of minerals, energy and marine diversity and also enhance India’s presence in the Indian Ocean.
About Mineral Exploration Corporation Limited (MECL):
MECL is also a ‘Navratna’ status Company.
Chief Managing Director (CMD) – Ranjit Rath
Headquarters – Nagpur, Maharashtra
About NMDC Limited:
NMDC Limited is India’s Largest Iron Ore producing ‘Navratna’ status Company.Formerly known as National Mineral Development Corporation.
CMD – Sumit Deb
Headquarters – Hyderabad, Telangana
