Spice Minerals signs MoU with NMDC to create JV Company

Hyderabad, May 29 (UNI) National Mineral Development Corporation (NMDC), a Government of India Enterprise and Spice Minerals and Metals, an initiative of the Spice Energy group, today signed a Memorandum of Understanding(MoU) in the city.

This MoU is one of the few private parntership entered by the NMDC, which chose Spice Minerals from 35 other reputed national and international companies to create a joint venture in 50:50 partnership. The JV will be called NMDC Spice International.

Mr Ravi Chilukuri, CEO, Spice Energy said, leveraging from NMDC's expertise and skills in the minerals and mining sector combined with Spice Energy's global reach and logistical prowess. The company aim to penetrate the international markets and make a mark for us on the global map.

The signing of the MoU also marks the beginning of a long-term, a strategic parntership for planning, acquisition, development and management of metal and mineral projects outside India, executable through specific joint ventures. The first project under consideration was in Armenia where mining assets in Iron Ore were proposed to be developed by both the companies, working in synergy, a press release said.

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