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National Mineral Development Corporation
Recently, National Mineral Development Corporation (NMDC) decided to restart mining at Donimalai in Bellari district of Karnataka. Consider the following statements about the NMDC:
1) NMDC is under the administrative control of the Ministry of Mines, incorporated in 1958 as a Government of India fully owned public enterprise.
2) The company has been categorised by the Department of Public Enterprises as Maharatna Public Sector Enterprise in 2008.
Choose the correct answer from the codes given below:A |
Only 1
|
|
B |
Only 2
|
|
C |
Both 1 and 2
|
|
D |
Neither 1 nor 2
|
Your Ans is
Right ans is D
Your Answer Is Correct
Your Answer Is Wrong
Explanation :
- Incorporated in 1958 as a Government of India fully owned public enterprise, NMDC is under the administrative control of the Ministry of Steel.
- The company has been categorised by the Department of Public Enterprises as " NAVRATNA" Public Sector Enterprise in 2008. In 1998, it was conferred the Mini Ratna status.
- NMDC is India's single largest iron ore producer, producing about 30 million tonnes of iron ore.
- Since inception it has been involved in the exploration of wide range of minerals including iron ore, copper, rock phosphate, limestone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, beach sands etc.
Navratna Companies
- Navratna scheme was introduced in 1997, to identify Central Public Sector Enterprises (CPSEs) that had comparative advantages and to support them in their drive to become global giants.
- It gives a company enhanced financial and operational autonomy and empowers it to invest up to 1000 crore or 15% of their net worth on a single project without seeking government approval.
- The prime criteria for getting Navratna status is that the renowned company must holds a status of Miniratna category-1 along with few independent directors at Miniratna level.
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