India's NMDC joint venture terminates iron ore mining contract with AEL
Time:Fri, 06 Oct 2023 06:23:37 +0800
keywords :
NMDC-CMDC, a joint venture of India's National Mineral Development Corporation and Chhattisgarh Mineral Development Corporation (CMDC), said that it had canceled its iron ore mining contract with Adani Enterprises (AEL). The contract, signed on December 6th, 2018, involved the allocation of the Bailadila No.13 iron ore deposit at Kirandul in Dantewada in southern Chhattisgarh to Adani Enterprises.
It was understood that NMDC-CMDC cited " monopoly in operations, shifting responsibilities, and providing mischievous information" as reasons for terminating the contract. Adani Enterprises has not taken the necessary steps to achieve the targeted goals and objectives specified in the agreement.