Profit

NMDC-Spice Energy strike gold in Armenia

PUBLISHED ON: July 11, 2008 | Duration: 1 min, 39 sec

  
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The demand for steel has gone up exponentially and along with that the demand for raw materials like iron ore. In fact, a good reserve is virtually worth its weight in gold like the reserves bagged in Armenia by a joint venture between NMDC and Spice Energy. The current iron ore reserve with the state owned National Mineral Development Corporation is over a billion tonnes. Now that figure is all set to go up by a huge 700 million tonnes because of this joint venture.
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