NMDC Revises Iron Ore Reserve Estimates for Karnataka to 111 Million Tonnes

Live Mint reported that the National Mining Development Corp. has updated its estimate for its Donimalai mine in Karnataka. Iron ore estimates were originally pegged at 17 mt, but have been increased by nearly seven times to over 100 mt.

As quoted in the publication:

The revision should be a relief to iron ore-strapped steel mills and also help allay fears that combined production in Donimalai and Kumaraswamy, another NMDC mine in Karnataka, may fall to as low as 7mt per year from 9.3 mt in 2013-14.

Click here to read the full Live Mint article.