Express News Service reported that the AP state Government wants the AP Mineral Development Corporation and the National Mineral Development Corporation to form a joint venture company with equal sharing to explore iron ore and gold deposits.

Mr YS Rajasekhara Reddy chief minister of AP held a meeting with Union Minister of State for Steel Mr A Sai Pratap, State Mines and Geology Minister Mr B Srinivasa Reddy and officials of the NMDC and APMDC and discussed the need to involve APMDC and NMDC in low grade iron ore exploration in Kadapa, Kurnool, Chittoor and Karimnagar districts for establishment of beneficiation plants.

The chief minister stated that the main idea is to get low grade iron ore reserves upgraded and marketed to have revenue generation and also to provide employment opportunities.

It was decided to have an APMDC NMDC joint venture company for exploration and extraction of iron ore and gold deposits.

The reserves of iron ore in the above four districts are estimated at about 200 million tonnes.

(Sourced from Express News Services)