Hyderabad, Sept.29 (Hydnow): NDMC CMD Sumit Deb addressed the share-holders of NMDC for the first time after assuming charge, in the 62nd AGM. He thanked all the stakeholders and shared how the largest iron ore producer in India is steadily progressing to achieve the goal of an environment friendly miner, with a positive thrust on economic and social development of the country. NMDC is continuing to advance in its mission to acquire and operate various iron ore, coal and other mineral assets in India, he added.
He also shared that during the year all of the five mining leases of Bailadila Iron Ore Mines in Chhattisgarh have been extended. He further informed Ministry of Coal has declared NMDC as successful allottee of Tokisud North Coal Mine (Non-Coking Coal) & Rohne Coal Mine (Coking Coal) under Section-5 of the Coal Mines (Special Provision) Act, 2015.
CY2019 has been a challenging year for the global as well as Indian economy. Global growth in CY19 recorded its weakest pace since the global financial crisis a decade ago. This global slowdown has common influences across countries along with country-specific factors. Rising trade tensions and associated uncertainties weighed on business sentiment and economic activities in emerging market economies such as India.
Further Deb explained, the Board of Directors of the company has accorded in-principle approval to the proposal to demerge NMDC Iron & Steel Plant (NISP) Nagarnar located in Chhattisgarh.
The CMD, Deb also shared the details of how technology upgradation is the key enabler for making mining operations economically competitive and how human resource development has been a key asset of the company. He also specifically mentioned about the CSR initiatives of NMDC which are designed towards improving the quality of general and socio-economic environment of people living in and around NMDC’s mining locations. He also mentioned that sustainability has always been a priority and will remain so in the future.
Sumit Deb also thanked the Ministry of Steel, and Ministry of Mines, Government of India, State Governments of Chhattisgarh, Karnataka, and other state governments, and all other stakeholders for the confidence and trust reposed in NMDC.
Deb concluded his address by saying, “The progress has only been possible due to the relentless and dedicated effort put in by the employees of the company. The Covid-19 pandemic has presented a new challenge which the NMDC collective faced with vigour and robustness. We will certainly put in our best efforts for sustained growth, expansion and prosperity of the company benefitting all stakeholders in times to come.” (Hydnow)