NMDC forms Joint venture with Spice Minerals

Hyderabad: NMDC Limited has entered into an MoU with Spice Minerals and Metals, an initiative of Haryana-based Spice Energy Group, in Hyderabad.

The MoU is one of the few private partnerships entered by NMDC, which chose Spice Minerals from 35 other national and international companies to create a 50:50 JV – NMDC Spice International.

It also marks the beginning of a long-term strategic partnership for planning, acquisition, development and management of metal and mineral projects outside India, executable through specific JVs.

The first project under consideration is in Armenia, where mining assets in iron ore are proposed to be developed by both the companies.