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Time of India
10-06-2025
- Business
- Time of India
Path to 100 MTPA: NMDC digs deep, strikes gold down under; project now builds critical mineral skills
Path to 100 MTPA: NMDC digs deep, strikes gold down under; project now builds critical mineral skills HYDERABAD: State-owned mining giant NMDC Ltd is actively pursuing the reservation of certain iron ore mines across India as part of its ambitious plan to achieve its target of 100 million tonnes per annum production capacity by 2030. The mining major has identified five key deposits for reservation: Malongtoli in Odisha, Bailadila Deposits 3 & 8 in Chhattisgarh, Ramandurg in Karnataka, Gadchiroli in Maharashtra, and Karampada in Jharkhand, NMDC chairman & managing director Amitabh Mukherjee told TOI. He said the company has approached various state govts requesting the reservation of strategic mining leases, citing its inability to compete in the current auction regime where premium bids often exceed 150% over and above royalties and various taxes, making such high premiums economically unviable for merchant miners like the company. For instance, he said the company has been talking to the Odisha govt for the Malongtoli deposit for over a decade and for Ramandurg for over seven to eight years. "We are definitely the best miners in the country in terms of EC (environmental clearance) capacity utilisation, carbon footprint, efficiency, and technology. We even exceed benchmark parameters set by global mining giants like Rio Tinto and Vale in several aspects," he said, pointing out that reserving these mines for NMDC would be in the larger national interest. To support its expansion plans, NMDC has already drawn up a substantial capital expenditure plan of Rs 65,000-70,000 crore over the next five years to meet its 100 MTPA target by 2030. Of this, projects worth around Rs 30,000 crore have already been sanctioned and are at various stages of scrutiny and tendering, while another Rs 13,000 crore projects are awaiting board approval and are expected to be sanctioned in the coming quarter. Additionally, projects worth Rs 25,000-30,000 crore are on the drawing board.
Time of India
09-06-2025
- Business
- Time of India
Evaluating 20-25 critical mineral assets in multiple countries: NMDC CMD
Hyderabad: State-owned mining giant NMDC is evaluating 20-25 mining proposals across multiple countries as part of its aggressive international expansion strategy to diversify its portfolio into critical minerals. India's largest iron ore miner ventured into gold mining in 2023 and is now scouting for prospects in critical minerals such as coking coal, lithium, copper and iron ore abroad. These are among the 10 key minerals, including nickel, manganese, nickel, dolomite, bauxite and cobalt, identified by NMDC as key focus area. "These proposals are in different stages of evaluation. We are looking at a couple of iron ore mines, a couple of coking coal mines, a few lithium mines, and one or two copper mines. Most of these are in Africa, Australia, Indonesia, and Brazil," NMDC Ltd chairman & managing director Amitabh Mukherjee told TOI. While refusing to divulge too many specifics citing NDAs (non-disclosure agreements), he said NMDC is particularly active in three to four African countries with an eye on establishing a strong presence in emerging mining jurisdictions. Pointing out that the proposals are at various stage of evaluation with some at desktop study stage, some at technical studies and others at the due diligence stage, he said NMDC has a rigorous evaluation process that typically takes five to six months for each proposal. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo While Russia and North America remain potential future markets, he said NMDC is currently concentrating on opportunities in the Southern Hemisphere and emerging economies. This strategic expansion is expected to strengthen NMDC's position as a global mining player while securing critical mineral resources for India's industrial growth, he indicated. In line with this global push, the company is also all set to open its wholly-wned international subsidiary called NMDC Global at GIFT City in Gujarat. The proposed subsidiary will work like NMDC's investment arm and will be the holding company for its overseas investments. Once set up, all its international investments will be made through step-down subsidiaries of this holding company that will be incorporated based as per the local laws of those countries. He said the push into critical minerals marks a significant diversification from NMDC's traditional iron ore focus, positioning the company to capitalise on the growing global demand for materials essential to renewable energy and electric vehicle technologies. On the impact of ongoing global geopolitical tensions and logistical challenges, he said NMDC maintains a long-term perspective on its acquisition strategy. Drawing parallels with NMDC's success in Bailadila, Chhattisgarh, which faced significant infrastructure and Naxalite challenges when operations began 60 years ago, he said the company is focused on evaluating assets based on their intrinsic quality rather than temporary external factors. "Mining business is about creating long-term value. We must evaluate assets on their merit, not just on immediate political or logistical scenarios," Mukherjee said, adding that the approach aligns with NMDC's philosophy of building lasting assets that generate value across generations.
Time of India
09-06-2025
- Business
- Time of India
NMDC seeks reservation of iron ore mines to achieve 100 million tonnes per year iron ore production by 2030
1 2 Hyderabad: State-owned mining giant NMDC Ltd is actively pursuing the reservation of certain iron ore mines across India as part of its ambitious plan to achieve its target of 100 million tonnes per annum production capacity by 2030. The mining major has identified five key deposits for reservation: Malongtoli in Odisha, Bailadila Deposits 3 & 8 in Chhattisgarh, Ramandurg in Karnataka, Gadchiroli in Maharashtra, and Karampada in Jharkhand, NMDC chairman & managing director Amitabh Mukherjee told TOI. He said the company has approached various state govts requesting the reservation of strategic mining leases, citing its inability to compete in the current auction regime where premium bids often exceed 150% over and above royalties and various taxes, making such high premiums economically unviable for merchant miners like the company. For instance, he said the company has been talking to the Odisha govt for the Malongtoli deposit for over a decade and for Ramandurg for over seven to eight years. "We are definitely the best miners in the country in terms of EC (environmental clearance) capacity utilisation, carbon footprint, efficiency, and technology. We even exceed benchmark parameters set by global mining giants like Rio Tinto and Vale in several aspects," he said, pointing out that reserving these mines for NMDC would be in the larger national interest. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Medical Mystery Solved: Dementia and Memory Loss Has Been Linked To This Common Thing. vitalgethealth Click Here Undo To support its expansion plans, NMDC has already drawn up a substantial capital expenditure plan of Rs 65,000-70,000 crore over the next five years to meet its 100 MTPA target by 2030. Of this, projects worth around Rs 30,000 crore have already been sanctioned and are at various stages of scrutiny and tendering, while another Rs 13,000 crore projects are awaiting board approval and are expected to be sanctioned in the coming quarter. Additionally, projects worth Rs 25,000-30,000 crore are on the drawing board.
Time of India
09-06-2025
- Business
- Time of India
NMDC eyes ambitious global expansion with focus on critical minerals
This is a representative AI image HYDERABAD: State-owned mining giant NMDC is evaluating 20-25 mining proposals across multiple countries as part of its aggressive international expansion strategy to diversify its portfolio into critical minerals. India's largest iron ore miner ventured into gold mining in 2023 and is now scouting for prospects in critical minerals such as coking coal, lithium, copper and iron ore abroad. These are among the 10 key minerals, including nickel, manganese, nickel, dolomite, bauxite and cobalt, identified by NMDC as key focus area. 'These proposals are in different stages of evaluation. We are looking at a couple of iron ore mines, a couple of coking coal mines, a few lithium mines, and one or two copper mines. Most of these are in Africa, Australia, Indonesia, and Brazil,' NMDC Ltd chairman & managing director Amitabh Mukherjee told TOI. While refusing to divulge too many specifics citing NDAs (non-disclosure agreements), he said NMDC is particularly active in three to four African countries with an eye on establishing a strong presence in emerging mining jurisdictions. Pointing out that the proposals are at various stage of evaluation with some at desktop study stage, some at technical studies and others at the due diligence stage, he said NMDC has a rigorous evaluation process that typically takes five to six months for each proposal. While Russia and North America remain potential future markets, he said NMDC is currently concentrating on opportunities in the Southern Hemisphere and emerging economies. This strategic expansion is expected to strengthen NMDC's position as a global mining player while securing critical mineral resources for India's industrial growth, he indicated. He said the push into critical minerals marks a significant diversification from NMDC's traditional iron ore focus, positioning the company to capitalise on the growing global demand for materials essential to renewable energy and electric vehicle technologies. On the impact of ongoing global geopolitical tensions and logistical challenges, he said NMDC maintains a long-term perspective on its acquisition strategy. Drawing parallels with NMDC's success in Bailadila, Chhattisgarh, which faced significant infrastructure and Naxalite challenges when operations began 60 years ago, he said the company is focused on evaluating assets based on their intrinsic quality rather than temporary external factors. "Mining business is about creating long-term value. We must evaluate assets on their merit, not just on immediate political or logistical scenarios," Mukherjee said, adding that the approach aligns with NMDC's philosophy of building lasting assets that generate value across generations. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
