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SAIL, NMDC Sign MOU to Develop Limestone Mine
11/19/2009 - Steel Authority of India Ltd. and National Mineral Development Corp. have signed a memorandum of understanding to jointly develop the Arki mine, which has deposits of about 100 million tonnes of quality limestone.
Steel Authority of India Ltd. (SAIL) and National Mineral Development Corp. (NMDC), India’s single-largest iron ore producer, have signed a memorandum of understanding to jointly develop the limestone mine at Arki in Solan district of Himachal Pradesh.
The MOU for the 50:50 joint venture was signed in the presence of Union Minister for Steel Shri Virbhadra Singh, Union Minister of State for Steel Shri A. Sai Prathap, Steel Secretary Shri Atul Chaturvedi, SAIL Chairman Shri S.K. Roongta, and NMDC Chairman-cum-Managing Director Shri Rana Som.
The Arki mine has deposits of about 100 million tonnes of quality limestone. The SAIL-NMDC joint venture will develop the mine to produce 3 million tonnes of limestone per annum—1 million tonne lumps and 2 million tonnes fines. The low-silica limestone lumps will be used by SAIL and NMDC as flux for steelmaking, and the fines will be sold in the market, particularly for the cement industry.
SAIL, India’s largest manufacturer of steel, notes that it currently does not have any captive source of low-silica limestone and meets its entire requirement through the market. The company expects its requirement of low-silica limestone to increase to 3 million tonnes in the next few years due to expanded production capacity.
The agreement allows NMDC to gain an assured buyer for its product.
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