Kathmandu, May 19

Close on the heels of successfully reviving Nepal Drugs Ltd (NDL), the government is in the final stage of reviving Nepal Metal Company Ltd (NMCL) — a government firm that has remained idle since more than three decades.

The Ministry of Industry (MoI), today, announced it will revive NMCL and utilise the company in exploration and extraction of metals in different reserves identified in the country. Moreover, the government recently increased the authorised capital of NMCL to Rs 9.4 billion from the existing Rs 330 million to make the company more effective in exploration of metals.

Though established in 1976 to extract zinc, lead and other metals from across potential reserves across the country, NMCL has not been able to start production yet.

By reviving NMCL, MoI also plans to give momentum to the long pending Ganesh Himal Zinc-Lead Project and start exploration and extraction of zinc and lead.

Industry Minister Nabindra Raj Joshi informed that MoI will announce a global tender for the extraction of zinc and lead from Ganesh Himal areas by August.