Hyderabad, August 09: The Andhra Pradesh Government is contemplating a joint venture between Andhra Pradesh Mineral Development Corporation (APMDC) and National Mineral Development Corporation (NMDC) on 50:50 sharing basis to explore Iron Ore deposits as well as that of Gold.
This was decided in a meeting reviewed by Andhra Pradesh Chief Minister Dr Y S Rajasekhara Reddy with Union Minister of State for Steel A Sai Prathap; AP Minister for Mines & Geology and Textiles, B Srinivasa Reddy, and officials of NMDC and APMDC here yesterday on the need for involvement of APMDC and NMDC in Low Grade Iron exploitation in Kadapa, Kurnool, Chittoor and Karimnagar Districts of Andhra Pradesh for establishment of beneficiation Plants.
At the out set, V D Rajagopal, VC and MD of APMDC, made a Power Point Presentation on the Low Grade Iron Ore Deposits of Andhra Pradesh and need for Joint Venture between APMDC & NMDC.
The Chief Minister stated that the main idea was to get Low Grade Iron Ore Reserves are upgraded so that it can be marketed, leading to revenue and employmentn generation.
He hoped to carry on the work within a set time frame. The estimated reserves of Iron Ore in Kadapa, Kurnool, Chittoor and Karimnagar Districts of Andhra Pradesh are about 200 million tones. State Agency, the Director of Mines and Geology with the financial support of both APMDC and NMDC will carry out the investigations.
—–Agencies