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National Mineral Development Corporation

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NMDC Limited
FormerlyNational Mineral Development Corporation
Company typePublic
IndustryMining
Founded1958; 66 years ago (1958)
HeadquartersHyderabad, Telangana
Key people
Shri Amitava Mukherjee Chairman-Cum-Managing Director (Additional Charge)
ProductsIron ore, copper,diamond, graphite, coal and beach sands
RevenueIncrease ₹15,721 crore (US$1.9 billion) (2021) [1]
Increase ₹8,895 crore (US$1.1 billion) (2021)[1]
Increase ₹6,247 crore (US$750 million) (2021)[1]
Total assetsIncrease ₹36,929 crore (US$4.4 billion) (2021)[1]
Total equityIncrease ₹29,884 crore (US$3.6 billion) (2021)[1]
OwnerGovernment of India (60.79%)[2]
Number of employees
5,887 (March 2019) [3]
Websitewww.nmdc.co.in

NMDC Limited, formerly National Mineral Development Corporation, is an Indian public sector undertaking involved in the exploration of iron ore, rock, gypsum, magnesite, diamond, tin, tungsten, graphite, coal etc. It is India's largest iron ore producer and exporter, producing more than 45 million tonnes of iron ore from three mechanized mines in Chhattisgarh and Karnataka. It also operates the only mechanized diamond mine in the country at Panna in Madhya Pradesh.[4]

Operating mines

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  • Bailadila Iron Ore Mine, Kirandul Complex, South Bastar district, Dantewada (C.G.)Steel[5]
  • Bailadila Iron Ore Mine, Bacheli Complex, South Bastar district, Dantewada (C.G.)
  • Donimalai Iron Ore Mine, Donimalai, Bellary district, Karnataka (at December 2019 suspended for over a year due to a royalty dispute)[6]
  • Diamond Mining Project, Majhgawan, Panna (M.P.)[5]

NMDC Ltd. is diversified into other raw materials for the steel industry such as low silica limestone. Production of dead burnt magnesite and further value addition is under study through its subsidiary J K Mineral Development Corporation Limited.

NMDC Ltd. has taken over a silica sand mining and beneficiation project from Uttar Pradesh State Mineral Development Corporation Ltd. The plant is designed to produce beneficiated high purity silica sand to a capacity of 300,000 tonnes per year as the raw material for production of float/sheet glass.

A memorandum of understanding has been signed between NMDC, Indian Rare Earths Limited, (IREL) and Andhra Pradesh Mineral Development Corporation to establish a joint venture for the development of Bheemunipatnam Beach Sand. The project envisages mining of beach sands, setting up of mineral separation plant for ilmenite concentrate and a downstream value addition plant for conversion of ilmenite into synthetic rutile/TiO2 slag/TiO2 pigment with pig iron as by-product.

Shri Amitava Mukherjee Chairman-Cum-Managing Director (Additional Charge)[7]

Geographical Footprints

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Business Units Products Locations
Panna Diamond Mine Diamond Madhya Pradesh, India
Steel SPV and Mining JV Special Purpose Vehicle Jharkhand, India
Coal Mines (Rohne & Tokisud) coal Jharkhand, India
Nagarnar Steel Plant Steel Chhattisgarh, India
Bacheli Mining Complex Iron Chhattisgarh, India
Kirandul Mining Complex Iron Chhattisgarh, India
Sponge Iron Unit, Paloncha Sponge Iron Telangana India
Donimalai Mining Complex Iron Karnataka , India
Donimalai Pellet Plant Iron Ore Pellets Karnataka, India
Steel SPV Special Purpose Vehicle Karnataka, India
Legacy Iron Ore Limited Iron Perth, Australia
International Coal Ventures Pvt Ltd. (ICVL) Coal Mozambique

NMDC Steel Limited

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NMDC set up a 3 MTPA capacity greenfield Nagarnar Steel Plant based on HiSmelt technology, 16 km from Jagdalpur in Chhattisgarh state, with an estimated outlay of Rs 20000 crore.[8][5]

A pure-play miner, NMDC had in 2009–10 conceived the Nagarnar steel plant with the intention of moving up the value chain and diversifying its portfolio. The idea was also to hedge itself against the vagaries of iron ore prices.[9][10]

The plant site is around 16 km from Jagdalpur and 6 km from the Odisha–Chattishgarh border. The nearest railway station is Amaguda (around 2 km). The site is located on National Highway NH 30. The nearby airports are Jagdalpur, Raipur & Vishakhapatnam and the nearest seaport is Visakhapatnam located at a distance of approx 325 km. The nearest river is Indravati, located at a distance of 3 km.[11]

In 2023 NMDC Steel became a publicly traded company on the Bombay Stock Exchange and National Stock Exchange of India, after a demerger from NMDC in 2022.[12][13]

Listings and shareholding

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The equity shares of NMDC are listed on the Bombay Stock Exchange and the National Stock Exchange of India.

As of February 2020, the Government of India held a 69.65% equity in NMDC.[14] 225,339 individual shareholders hold approximately 3.79% of its shares. The balance is held by insurance companies (14.31%), foreign institutional investors (5.78%), mutual funds (4.42%), and banks (1.96%). Life Insurance Corporation of India is the largest non-promoter shareholder in the company with a 13.699% shareholding.[15]

International

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A 2017 stamp dedicated to the 60th anniversary of the National Mineral Development Corporation

In Australia, Legacy Iron Ore, a majority-owned NMDC company, holds majority stakes in gold and iron ore projects in Western Australia.[16] In 2023, NMDC started exploring for Lithium reserves in the company's, majority owned, Mount Bevan mine in Australia.[17]

NMDC Limited was awarded the Corporate Social Responsibility Award Global Metals Award 2018 in the Corporate Social Responsibility category in London, the first time since inception that an Indian company received the award.[18]

Awards and recognition

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  • NMDC wins SCOPE Eminence Award 2019-20 for CSR Excellence, honoured by Hon’ble Vice President of India – Shri Jagdeep Dhankar
  • NMDC clinched the “Most Sustainable & Innovative Manufacturing Practices” award at World HRD Congress & Awards 2024
  • Shri Amitava Mukherjee, CMD (Addl. Charge) has been bestowed with the “CEO of the year Award” at the Business Leader of Year 2024 in Mumbai
  • Shri Amitava Mukherjee, CMD (Addl. Charge) NMDC, honoured with the coveted “CEO With HR Orientation” accolade at the distinguished World Manufacturing Award 2024.[19]
  • NMDC’s social commitment celebrated with the accolade of “Best PSU for CSR in Mining and Minerals” at the Global CSR Excellence and Leadership Awards on World CSR Day 2024.
  • NMDC CMD & Director (Finance), Shri Amitava Mukherjee presented with the “CFO of the Year” Award at the second edition of ASSOCHAM’s Vibrant Bharat CFO Summit & Awards today in New Delhi[20]
  • NMDC Women Leader shines. Smt. P Shanthi GM (Commercial) presented with the HYBIZ Women’s Leader Award 2024 & Smt. G Anupama GM (Finance & SoT CMD) presented with the HYBOZ Women’s Leader Award 2024
  • Won 5 awards at Governance NOW 10th PSU Awards[21]
  • NMDC honoured with the prestigious “Sustainable Champion Award 2024” for their envt. Friendly and innovative initiatives at Sustainability Summit and Awards 2024.
  • NMDC’s BIOM, Bacheli Complex won “Strong Commitment to HR Excellence Award” at the 14th CII National HR Excellence Awards (2023-24)
  • ASSOCHAM Awards for – Mining Excellence – ESG and Sustainability of the Year’ and Excellence in Mining Innovation and Mineral Development
  • First prize for CSR Journal Excellence Awards (Women Empowerment and Child Welfare)[22]

See also

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NMDC Lakdi-ka-pul, a co-branded metro station of Hyderabad Metro

References

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  1. ^ a b c d e "Balance Sheet 31.03.2020".
  2. ^ "NMDC soars ex-demerger". indiainfoline.com. Retrieved 15 June 2023.
  3. ^ "NMDC Limited". Archived from the original on 5 February 2022. Retrieved 16 July 2020.
  4. ^ Law, Abhishek (26 September 2024). "NMDC Ltd eyes lithium block acquisition in Australia & Africa". BusinessLine. Retrieved 24 October 2024.
  5. ^ a b c "66th Annual Report 2023–2024" (PDF). nmdc.co.in. 2024.
  6. ^ Bhattacharya, Prasenjit (19 December 2019). "India's NMDC gets nod to expand iron ore mine". Argus Media. Retrieved 31 March 2020.
  7. ^ "Our CMD". nmdc.co.in. Retrieved 24 October 2024.
  8. ^ "Archived copy". www.projectsinfo.in. Archived from the original on 2 February 2022. Retrieved 22 May 2022.{{cite web}}: CS1 maint: archived copy as title (link)
  9. ^ "NMDC aims September start for Nagarnar steel mill". FE. 28 March 2017.
  10. ^ Mohanty, Meera (1 October 2019). "Steel ministry wants to put off sale of NMDC's Chhattisgarh steel plant". The Economic Times. Retrieved 31 March 2020.
  11. ^ "Archived copy" (PDF). Archived from the original (PDF) on 2 May 2012. Retrieved 21 April 2018.{{cite web}}: CS1 maint: archived copy as title (link)
  12. ^ "NMDC shares trade ex-demerger. Should you buy?". Mint. 28 October 2022. Retrieved 20 April 2023.
  13. ^ "NMDC Steel makes market debut at Rs 30.25". Moneycontrol. 20 February 2023. Retrieved 20 April 2023.
  14. ^ "Govt of India cuts stake in NMDC by 2.63%". Business Standard. New Delhi. 11 February 2020. Retrieved 1 April 2020.
  15. ^ "Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 made on 30th December, 2022" (PDF). 30 December 2022.
  16. ^ "NMDC Limited – Our CMD". www.nmdc.co.in. Retrieved 7 October 2017.
  17. ^ Arora, Neha (19 April 2023). "Iron ore miner NMDC exploring lithium reserves for mining in Australia". ThePrint. Retrieved 20 April 2023.
  18. ^ "Congratulations to the winners of the 2018 Platts Global Metals Awards!". S&P Global Platts. London. Retrieved 31 March 2020.
  19. ^ https://x.com/nmdclimited/status/1758488440143015947. {{cite web}}: Missing or empty |title= (help)
  20. ^ "NMDC CMD & Director (Finance) bags title of 'CFO of the Year'". www.psuconnect.in. Retrieved 24 October 2024.
  21. ^ "NMDC excels at Governance Now 10th PSU Awards". www.psuconnect.in. Retrieved 24 October 2024.
  22. ^ "NMDC celebrates double accolades at CSR Journal Excellence Awards and ASSOCHAM Awards 2024". Odisha Diary, Latest Odisha News, Breaking News Odisha. 1 October 2024. Retrieved 24 October 2024.

https://timesofindia.indiatimes.com/amitava-mukherjee-assumes-additional-charge-as-nmdc-cmd/articleshow/98636198.cms

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