NMDC arm to prospect, mine iron ore, critical minerals in western Australia

Subject :Geography

Section: Economic Geography

State-run PSU miner, NMDC Ltd, is eyeing exploration and development of iron-ore mines at Mt Bevan in western Australia. Apart from magnetite iron ore, the company will also prospect for critical minerals like copper, lithium, and tungsten.
Critical minerals mean important, and these minerals are indeed important for many high-tech appliances that power the global economy, like electric vehicles, smartphones, and wind turbines
Initial studies have revealed that Mt Bevan holds 1,170 million tonne magnetite iron ore resources. Magnetite iron ore can be concentrated into a higher-grade product. Premiums for high-grade iron ore are increasing, partly because they generate steel with more efficiency
NMDC’s subsidiary, Legacy, is also developing an advanced gold exploration project at Mt Celia, at the South Laverton Project