National Mineral Development Corporation

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NMDC Limited
Partly Government-owned corporation
Traded as
IndustryMining
Founded1958
HeadquartersHyderabad, India
Key people
Shri N. Baijendra Kumar, IAS (CMD)
ProductsIron ore, copper, rock phosphate, lime stone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, and beach sands
RevenueIncrease12,138.13 crore (US$1.7 billion) (2017-18)[1]}}
Increase6,176.57 crore (US$860 million) (2017-18)[1]
Increase3,802.79 crore (US$530 million) (2017-18)[1]
Total assetsIncrease28,691.32 crore (US$4.0 billion) (2017-18)[1]
Number of employees
5,700 (2017-18)
Websitewww.nmdc.co.in

NMDC Limited, previously known as National Mineral Development Corporation, is an Indian state-controlled mineral producer. It is 72.43% owned by the Government of India, under the administrative control of the Ministry of Steel.

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

It is India's largest iron ore producer and exporter producing more than 35 million tons of iron ore from 3 fully mechanized mines in Chhattisgarh and Karnataka. It also operates the only mechanized diamond mine in the country at Panna in Madhya Pradesh.

Operating mines[edit]

  • Bailadila Iron Ore Mine, Kirandul Complex, South Bastar district, Dantewada (C.G.)
  • Bailadila Iron Ore Mine, Bacheli Complex, South Bastar district, Dantewada (C.G.)
  • Donimalai Iron Ore Mine, Donimalai, Bellary district, Karnataka
  • Diamond Mining Project, Majhgawan, Panna (M.P.)

NMDC Ltd. is also diversifying into other raw materials for steel industry like 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 beneficiaton project from Uttar Pradesh State Mineral Development Corporation Ltd., The plant has been designed to produce high purity beneficiated[clarification needed] silica sand of around 300,000 tonnes per year which is a raw material for production of float/sheet glass.

With a view to capture the opportunities now available following the Navratna recognition and its expertise in the field of mineral exploration and mining, NMDC is venturing into development of high value minerals like gold, diamond etc., as joint ventures in some of the African countries.

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. National Mineral Development Corporation (NMDC) is setting up a 3 MTPA capacity greenfield Integrated Steel Plant in Nagarnar, located 16 km from Jagdalpur, with an estimated outlay of Rs 18,000 crore. The land for the plant has already been acquired as of August 2010 and, as of February 2012, 9 major packages and certain auxiliaries packages of the steel plant have already been awarded to internationally acclaimed companies at a cost of around Rs.11,000 crore.

Nagarnar Steel Plant[edit]

NMDC, as part of its diversification, value addition and forward integration programme is setting up a 3 MTPA capacity greenfield Integrated Steel Plant based on HiSmelt technology in Nagarnar, located 16 km from Jagdalpur in Chhattisgarh state with an estimated outlay of Rs 20000 crore.[2]

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.[3]

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.[4]

Construction work for the project is in progress and around 90.59% of civil work, 79.01% structural erection, 60.36% equipment erection have been completed as on 31 December 2017.[5]

Baijendra Kumar, Chairman cum Managing Director, NMDC has set September 2018 as the deadline to commission the plant.

Listings and shareholding[edit]

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

In June. 2018, Government of India held around 72.43% equity shares in NMDC. Over 242,835 individual shareholders hold approx. 3.39% of its shares.Life Insurance Corporation of India is the largest non-promoter shareholder in the company with 12.47% shareholding.[6]

The balance is held by public, FIIs, Mutual Funds and Banks.

News[edit]

In recent reports NMDC is planning to undertake mining in Australia. Legacy Iron Ore (LCY), a majority owned NMDC company, will acquire majority stakes in projects in Australia.[7]

NMDC Limited has bagged the prestigious S&P Global PLATTS Global Metals Award 2018 in corporate social responsibility (CSR) category held on 17.05.2018 at London. The shortlisted 12 nominations were of renowned companies across the world. This is the first time since inception of this award that an Indian Company bagged an award in this category. [8]

References[edit]

  1. ^ a b c d "Corporate website".
  2. ^ http://www.projectsinfo.in/News.aspx?nId=7dnGsGVKFCkeGmlJyFhljw==
  3. ^ "NMDC aims September start for Nagarnar steel mill". FE. 28 March 2017.
  4. ^ http://www.nmdc.co.in/right_pplant/Brochure%20circulated%20in%20EOI%20Conference-31.05.11.pdf
  5. ^ "Steel Ministry Annual Report 2017-18 presentation" (PDF). IICHE. 7 March 2018.
  6. ^ https://www.nmdc.co.in/Shareholders/Pattern.aspx
  7. ^ "NMDC Limited - Our CMD". www.nmdc.co.in. Retrieved 2017-10-07.
  8. ^ http://pib.nic.in/PressReleseDetail.aspx?PRID=1532711. Missing or empty |title= (help)

External links[edit]