India's Chhattisgarh govt plans to revoke NMDC's mining lease
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Author : Kelly
Update time : 2020-05-11 14:02:04
According to reports, India’s state of Chhattisgarh expressed its dissatisfaction with the state-owned mining company, NMDC. The state government planned to cancel NMDC’s mining lease in its jurisdiction.
NMDC has three mining areas in India, and two of them were in Chhattisgarh. If the NMDC's lease in Chhattisgarh was abolished, it would have a huge impact on NMDC.
NMDC had promised to pay Rs 16.23 billion as part of the Common Clause Judgement and to extend its mine lease until March 2020. In fact, the company only paid Rs 6 billion and extended the mine lease to September 11th, 2035.
In addition, NMDC promised to build a town around its new integrated steel plant in Nagarnar, but NMDC once again refused to fulfill its promise.
India’s Congress Minister gave Steel Minister Dharmendra Pradhan the last chance, hoping that NMDC should honor their commitment to the government.
