GMDC Signs MoU with NMDC Limited to Explore Strategic Collaboration in the Rare Earth Elements Sector

Gujarat Mineral Development Corporation Ltd. (GMDC), a Government of Gujarat enterprise has entered into a Memorandum of Understanding (MoU) with NMDC Limited, a Government of India Navratna PSU, to explore opportunities for collaboration in the Rare Earth Elements (REE) sector.

The collaboration will focus on assessing the potential development of an integrated rare earth value chain in Gujarat, including exploration, mining, beneficiation, processing and downstream applications. The engagement will primarily explore opportunities associated with GMDC's Ambadungar Rare Earth deposit, a strategic initiative aimed at strengthening India's capabilities in the rare earths sector.

Under the MoU, both organisations will work together to evaluate opportunities for technical collaboration, project development and potential business structures. The partnership is also expected to facilitate knowledge exchange, technical evaluation and coordinated efforts towards advancing rare earth resource development.

This collaboration forms part of GMDC's broader rare earth development roadmap for the Ambadungar deposit, where the Corporation has been progressively advancing in resource utilisation, indigenous processing capabilities and pilot-stage technology validation initiatives.

The initiative aligns with national priorities of strengthening domestic capabilities in critical minerals and reducing import dependence, while enabling the development of downstream industries linked to clean energy technologies, advanced manufacturing and strategic sectors.

Commenting on this significant milestone, Shri 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."

Shares of Gujarat Mineral Development Corporation Limited was last trading in BSE at Rs. 528.70 as compared to the previous close of Rs. 555.45. The total number of shares traded during the day was 111481 in over 2494 trades.

The stock hit an intraday high of Rs. 556.70 and intraday low of 527.15. The net turnover during the day was Rs. 60144430.00.

Shares of NMDC Limited was last trading in BSE at Rs. 78.55 as compared to the previous close of Rs. 80.86. The total number of shares traded during the day was 631148 in over 4199 trades.

The stock hit an intraday high of Rs. 81.27 and intraday low of 78.27. The net turnover during the day was Rs. 50076557.00.

Source : Equity Bulls

Keywords

GujaratMineralDevelopmentCorporation INE131A01031 GMDC Coal NMDC INE584A01023 Mining MOU