A joint venture had been taken up by NMDC and Arcelor Mittal and it has been announced that the final decision on this venture will be made in a meeting between the two parties in Bangalore.

This meeting will be held by the end of this month. This project has made a lot of development and both parties are interested to move ahead with it as soon as possible.

The final decision over the venture will be revealed after this meeting. This was declared by NMDC.

NMDC, which is largely interested in acquiring foreign proposals, needed the support of a big company like Arcelor Mittal, to make its overseas acquisitions easier. This explains why NMDC decided to join hands with Arcelor Mittal in the first place.

When asked about the impact on the excavation of ores due to the recent two day-bandh called by Maoists, NMDC revealed that it was indeed affected by 10-15 per cent. But still, the evacuations from the Bailadilla mines in Chhattisgarh did not suffer any loss.