17-Mar-2026      10:49

NMDC signs MoU with GMDC to explore rare earth minerals collaboration

GMDC is a Government of Gujarat enterprise.

The MoU aims to strengthen cooperation between the two entities in securing India's critical mineral supply chain and building an integrated rare earth value chain in the country.

The proposed collaboration will cover the entire spectrum of activities, including exploration, mining, processing, separation and downstream manufacturing of rare earth elements.

The initiative is aligned with India's broader objective of reducing import dependence and enhancing domestic capabilities in critical minerals.

NMDC is engaged in exploration and production of iron ore along with diamond production and sale of sponge iron and generation and sale of wind power.

The company's consolidated net profit declined 7.9% to Rs 1,747.01 crore on a 15.9% rise in revenue from operations to Rs 7,610.79 crore in Q3 FY26 over Q3 FY25.

Shares of NMDC rose 0.92% to Rs 78.27 on the BSE.

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