NMDC Limited, the iron ore mining public sector major and Mishra Dhatu Nigam Limited (Midhani), the specialist in developing metals and alloys, have signed an agreement to work on tungsten ore mining as well as processing for use in strategic defense areas.
PK Satpathy, the Director (Production) on behalf of NMDC Limited, and SK Jha, the Director of Midhani, inked the memorandum in the presence of Narendra K Nanda, Director (Technical) of NMDC, among the others at NMDC Corporate Office, according to an NMDC statement.
The tungsten metal is of strategic importance to India, and is used in the process of manufacture of tungsten-based heavy alloy ammunition systems for armed forces.
Tungsten is not available hugely in India and it is not being mined due to the lean ores. The Country’s requirement of this strategic mineral is being currently met mainly through imports. India’s neighbour, China is the largest producer of Tungsten producing more than three quarters of the global production.
With a strong mining background, NMDC limited has been working on to acquire mineral assets abroad and Midhani, with its expertise in the fields of metals and alloys, is expected to provide technical support and coordination for Ammonium Para Tungstate (APT). Their combined strengths are expected to facilitate in developing a venture for tungsten mineral assets in India as well as abroad.
This alliance would strengthen both NMDC ltd’s and Midhani’s resolve to explore jointly the available tungsten assets in India and also consider investment and development abroad. The technology could also be used for the conversion tungsten ore to APT and tungsten powder.
In the meantime NMDC share price is currently trading at Rs 123.15 on NSE, up by 0.61 per cent or 0.75 points. Get the most important support and resistance levels of NMDC at NMDC share price forecast.
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