GMDC inks MoU with NMDC to explore strategic collaboration in the Rare Earth Elements sector
Under the MoU, both organisations will evaluate opportunities for technical collaboration, project development and potential business structures. The partnership is also expected to support knowledge exchange, technical assessments and coordinated efforts to advance rare earth resource development.
The initiative forms part of GMDC?s broader development roadmap for the Ambadungar deposit, where the company has been advancing efforts in resource utilisation, indigenous processing capabilities and pilot-stage technology validation.
The company stated that the initiative aligns with national priorities to strengthen domestic capabilities in critical minerals and reduce import dependence, while enabling the development of downstream industries linked to clean energy technologies, advanced manufacturing, and strategic sectors.
Roopwant Singh, IAS, managing director, GMDC, said, ?The collaboration with NMDC brings together complementary institutional strengths and technical expertise to explore opportunities in the rare earth sector. Through this initiative, GMDC aims to advance the development of a sustainable rare earth value chain while contributing to India?s critical mineral resilience and industrial progress.?
GMDC, India?s second-largest lignite producer and the leading merchant seller of lignite, is a state-owned enterprise with the Gujarat government holding a 74% stake. The company mines lignite from deposit-rich regions across the state and supplies it to high-growth industries such as textiles, chemicals, ceramics, bricks, and captive power. The scrip advanced 2.22% to Rs 543.70 on the BSE.
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 scrip shed 0.18% to Rs 77.42 on the BSE.
Powered by Capital Market - Live News
