The commercial discovery of Bailadila dates back to 1955-56 when Prof. Euemura of Japanese Steel Mills Association,Forbes India Magazine – Why Japanese Steel Companies Are In India studying the memoirs of Geological Survey of India, drew the attention of the Japanese Steel Mills to the richness of the vast deposits of iron ore and its proximity to the Eastern Coast of India. Later an agreement had been signed with the Japanese Steel Mills in 1960.NMDC Ltd. - Director Reports - money.livemint.com An approval of the project report prepared by NMDC was given in 1964 and the Mine Plant had been inaugurated on November 1968. Later on, National Mineral Development Corporation, with help of Japan set up the first iron ore plant in Kirandul. Currently Japan is the biggest purchaser of its ore, but earlier it has also sold ore in Bhilai Steel Plant too.
