NMDC arm Legacy Iron Ore to mine gold in Australia

India’s state-owned iron ore miner NMDC Ltd’s subsidiary Legacy Iron Ore Ltd is set to mine gold in western Australia, the government said in an official statement on Sunday.

 

Nagendra Nath Sinha, Secretary, Ministry of Steel, has unveiled a groundbreaking ceremony for the Mining operations at Mount Celia Gold Project located in Western Australia. 

 

This initiative, undertaken by Legacy Iron Ore Limited has been met with great anticipation and stands as a testament to the relentless dedication and commitment of NMDC in diversifying its mineral assets, said the Ministry.

 

Notably, this is the establishment of the first gold mine in NMDC's extensive portfolio, signifying a remarkable accomplishment for the organization.

 

The Ministry also mentioned that the first ore for processing at Paddington Gold Mine is scheduled for CYQ1, 2024, and it is poised to become a significant contributor to India's gold production landscape.

Top stories
Company

L&T Partners with PS Technology to Revolutionise Railways

6 mins read . 02 Aug 2024 . 12:45 PM

Company

Jindal Saw Q1 FY24 PAT Rises 67% to Rs 441 Cr

4 mins read . 02 Aug 2024 . 12:41 PM

Company

Pfizer Q1 FY25 PAT Zooms 61% to Rs 151 Cr

4 mins read . 02 Aug 2024 . 12:36 PM

Related Blogs
blog-logo

Share Market

blog-logo

9 mins read . 11 Oct 2024

Public Sector Undertakings in India

  • 0 people read
blog-logo

Share Market

blog-logo

7 mins read . 11 Oct 2024

How Did Rakesh Jhunjhunwala Become a Billionaire?

  • 0 people read
Kickstart your equities journey today You've got this
By submitting this I agree to the terms & conditions