National Mineral Development Corporation

NMDC Limited, (formerly National Mineral Development Corporation), is a government owned mineral producer. It is under the ownership of Ministry of Steel, Government of India.[5]

NMDC Limited
FormerlyNational Mineral Development Corporation
TypePublic Sector Undertaking
IndustryMining
Founded1958
HeadquartersHyderabad, Telangana
Key people
Sumit Deb
(Chairman & MD) [1]
ProductsIron ore, copper, rock phosphate, limestone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, coal and beach sands
RevenueIncrease15,721 crore (US$2.0 billion) (2021) [2]
Increase8,895 crore (US$1.1 billion) (2021)[2]
Increase6,247 crore (US$780 million) (2021)[2]
Total assetsIncrease36,929 crore (US$4.6 billion) (2021)[2]
Total equityIncrease29,884 crore (US$3.7 billion) (2021)[2]
OwnerGovernment of India (68.3%) (March 2021)[3]
Number of employees
5,887 (March 2019) [4]
ParentMinistry of Steel , Government of India
Websitewww.nmdc.co.in

It is involved in the exploration of iron ore, copper, rock phosphate, limestone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, coal etc.

It is India's largest iron ore producer and exporter, producing more than 35 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.

NMDC is in the process of demerging its Nagarnar iron and steel plant by mid 2022, and publicly listing the demerged company.[6]

Operating minesEdit

  • Bailadila Iron Ore Mine, Kirandul Complex, South Bastar district, Dantewada (C.G.)Steel
  • 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)[7]
  • Diamond Mining Project, Majhgawan, Panna (M.P.)

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, (IRE) 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.

Nagarnar Steel PlantEdit

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]

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 Orissa–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]

Listings and shareholdingEdit

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.[12] 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 12.89% shareholding.[13]

InternationalEdit

 
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.[14]

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.[15]

ReferencesEdit

  1. ^ "Sumit Deb appointed as CMD of NMDC Limited". psuwatch.com. Retrieved 23 July 2020.
  2. ^ a b c d e "Balance Sheet 31.03.2020".
  3. ^ "Latest Shareholding Pattern - NMDC Ltd". Trendlyne. Retrieved 7 July 2021.
  4. ^ "NMDC Limited". Archived from the original on 5 February 2022. Retrieved 16 July 2020.
  5. ^ "Latest Shareholding Pattern - NMDC Ltd". trendlyne.com. Retrieved 7 August 2020.
  6. ^ Law, Abhishek (17 February 2022). "Demerger of Nagarnar plant will be completed by June 2022: NMDC". www.thehindubusinessline.com. Retrieved 8 May 2022.
  7. ^ Bhattacharya, Prasenjit (19 December 2019). "India's NMDC gets nod to expand iron ore mine". Argus Media. Retrieved 31 March 2020.
  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. ^ "Govt of India cuts stake in NMDC by 2.63%". Business Standard. New Delhi. 11 February 2020. Retrieved 1 April 2020.
  13. ^ "Shareholding pattern as on 07-02-2020" (PDF). Hyderabad: NMDC Limited. 12 February 2020. Retrieved 1 April 2020.
  14. ^ "NMDC Limited – Our CMD". www.nmdc.co.in. Retrieved 7 October 2017.
  15. ^ "Congratulations to the winners of the 2018 Platts Global Metals Awards!". S&P Global Platts. London. Retrieved 31 March 2020.

External linksEdit