What is the strategy for NMDC going forward, with most of the mines allotted to you suffering from huge gestation periods, coupled with the problem of depleting reserves in your existing mines?
A – Mr Som said that NMDC’s steel and iron ore businesses will start giving the company equal turnover after five years or so. The gestation period in mining area has been very high. And we know that all our natural resources will be exhausted one day. That is why the idea is to grab some natural resources elsewhere so that we can protect the national interests in the long run. Our effort has been that NMDC should have mines not just in India but also abroad, and NMDC should become a multinational mining company over a period of time. We should have hold on natural resources so that in future our industrial development is not hindered for lack of natural resources. Q. How has your overseas presence expanded so far? A – We are present in Tanzania. So far as iron ore is concerned, our efforts in Armenia and Eritrea have not yielded results. But we will be going to Cambodia shortly to see whether gold and iron ore reserves are available there. We are interested in Australia, Indonesia, Ca
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