Jammu: The National Mineral Development Corporation (NMDC) has given the green signal for the Rs. 140 crore magnesite extraction project at Panthal to faciliatet commercial exploitation of raw magnesite in the area.

A joint venture of NMDC and J and K Minerals Limited, the project is seeing the light of day after 20 years following efforts by the State and Central governments, an official statement stated recently.

It is hoped that the implementation of this project will generate employment for local youth besides ensuring revival of functioning of Jammu and Kashmir Minerals.

The objective of this project was to extract magnesite of 100 TPD capacity for manufacture of Dead Burnt Magnesite (DBN).

This was informed by the Minister for Industries and Commerce, S S Slathia, while reviewing the project's progress with NMDC Managing Director Rana Som, and other concerned officers.