NMDC
New to Zerodha? Sign-up for free.
New to Zerodha? Sign-up for free.
Get instant stock alerts
- Share Price
- Financials
- Revenue mix
- Shareholdings
- Peers
- Forensics
Share Price
Coming soon
- 5D
- 1M
- 6M
- YTD
- 1Y
- 5Y
- MAX
Financials
-
Summary
-
Profit & Loss
-
Balance sheet
-
Cashflow
| (In Cr.) |
|---|
| (In Cr.) | ||||
|---|---|---|---|---|
|
This data is currently unavailable for this company. |
| (In %) |
|---|
| (In Cr.) |
|---|
| Financial Year (In Cr.) |
|---|
Revenue mix
-
Product wise
-
Location wise
Revenue Mix
This data is currently unavailable for this company.
Revenue Mix
This data is currently unavailable for this company.
Forensics
Recent events
-
News
-
Corporate Actions
India's NMDC gains on hiking iron ore prices
** Shares of NMDC NMDC.NS climb 3.6% to 80.85 rupees
** Top pct gainer on Nifty metals .NIFTYMET index, which is up 0.3%
** Miner hikes prices of iron ore lump and fine by 500 rupees ($5.39) and 450 rupees/ton, respectively, to 5,300 rupees/ton and 4,500 rupees/ton
** Hike driven by sharp increase in domestic steel prices, with trend expected to support improved revenue and profitability for NMDC, says ICICI Direct Research
** Brokerage maintains a positive long-term outlook for NMDC, supported by strong iron ore demand and ongoing capacity expansion
** Avg rating of 17 analysts on NMDC at "hold"; median PT is 84.50 rupees - data compiled by LSEG
YTD, NMDC down 2.8% vs .NIFTYMET's 2.8% climb
($1 = 92.8350 Indian rupees)
(Reporting by Kashish Tandon in Bengaluru)
** Shares of NMDC NMDC.NS climb 3.6% to 80.85 rupees
** Top pct gainer on Nifty metals .NIFTYMET index, which is up 0.3%
** Miner hikes prices of iron ore lump and fine by 500 rupees ($5.39) and 450 rupees/ton, respectively, to 5,300 rupees/ton and 4,500 rupees/ton
** Hike driven by sharp increase in domestic steel prices, with trend expected to support improved revenue and profitability for NMDC, says ICICI Direct Research
** Brokerage maintains a positive long-term outlook for NMDC, supported by strong iron ore demand and ongoing capacity expansion
** Avg rating of 17 analysts on NMDC at "hold"; median PT is 84.50 rupees - data compiled by LSEG
YTD, NMDC down 2.8% vs .NIFTYMET's 2.8% climb
($1 = 92.8350 Indian rupees)
(Reporting by Kashish Tandon in Bengaluru)
NMDC Says March 2026 Iron Ore Production At 5.35 MT
April 1 (Reuters) - NMDC Ltd NMDC.NS:
NMDC - MARCH 2026 IRON ORE PRODUCTION AT 5.35 MT
Source text: [ID:]
Further company coverage: NMDC.NS
April 1 (Reuters) - NMDC Ltd NMDC.NS:
NMDC - MARCH 2026 IRON ORE PRODUCTION AT 5.35 MT
Source text: [ID:]
Further company coverage: NMDC.NS
NMDC Says Anurag Kapil To Be CFO And KMP From March 31, 2026 For Five Years
March 31 (Reuters) - NMDC Ltd NMDC.NS:
NMDC - SHRI ANURAG KAPIL TO BE CFO AND KMP FROM MARCH 31, 2026 FOR FIVE YEARS
NMDC - SMT. G ANUPAMA CEASES TO BE CFO AND KMP EFFECTIVE MARCH 31, 2026
Source text: ID:nBSE10YrqP
Further company coverage: NMDC.NS
March 31 (Reuters) - NMDC Ltd NMDC.NS:
NMDC - SHRI ANURAG KAPIL TO BE CFO AND KMP FROM MARCH 31, 2026 FOR FIVE YEARS
NMDC - SMT. G ANUPAMA CEASES TO BE CFO AND KMP EFFECTIVE MARCH 31, 2026
Source text: ID:nBSE10YrqP
Further company coverage: NMDC.NS
India seeks steelmaking raw material from Argentina, Indonesia, Oman, sources say
By Neha Arora
NEW DELHI, March 27 (Reuters) - India will hold talks with Argentina, Indonesia and Oman next month as it seeks to boost supplies of steelmaking raw materials such as coking coal and iron ore, and access technology, two sources with direct knowledge told Reuters.
The talks are expected to begin next month at a global steel summit, described by the Indian government as the country's largest international conference-cum-exhibition, said the sources who did not wish to be identified as the plan was not yet public.
India, the world's biggest crude steel producer after China, relies on ferronickel imports for stainless steel manufacturing, with Indonesia holding the world's largest nickel ore reserves.
The country also imports large quantities of iron ore from Oman and Brazil, with which it signed a deal last month to expand cooperation in mining and minerals, as it seeks to meet rising domestic steel demand.
With Argentina, India aims to secure imports of lithium and other critical minerals for New Delhi's state miner NMDC NMDC.NS, the sources said.
The steel ministry and NMDC did not immediately respond to Reuters' emails seeking comment.
Argentina is the world's fourth-largest producer of lithium, a key component in batteries for electric vehicles and renewable energy storage.
In January, the Indian government said it wants to secure stable supplies of key raw materials such as coking coal, lithium, cobalt and rare earth elements as it expands steel production and accelerates its transition to cleaner energy.
Besides meeting rising domestic demand driven by strong economic growth and higher infrastructure spending, India is also seeking to boost steel exports.
New Delhi is diversifying its steel export markets from Europe to Asia and the Middle East to offset the impact of the European Union's carbon tax, driving higher output and greater demand for raw materials.
Amid concerns over securing raw material supplies from overseas, India's steel sector is grappling with a severe gas crisis- spurred by the war in the Middle East - that has threatened production at small steel units, while a unit of the JSW Group has also warned of a potential shutdown.
(Reporting by Neha Arora; editing by Mayank Bhardwaj and Lincoln Feast.)
((neha.dasgupta@tr.com; X: neha_5;))
By Neha Arora
NEW DELHI, March 27 (Reuters) - India will hold talks with Argentina, Indonesia and Oman next month as it seeks to boost supplies of steelmaking raw materials such as coking coal and iron ore, and access technology, two sources with direct knowledge told Reuters.
The talks are expected to begin next month at a global steel summit, described by the Indian government as the country's largest international conference-cum-exhibition, said the sources who did not wish to be identified as the plan was not yet public.
India, the world's biggest crude steel producer after China, relies on ferronickel imports for stainless steel manufacturing, with Indonesia holding the world's largest nickel ore reserves.
The country also imports large quantities of iron ore from Oman and Brazil, with which it signed a deal last month to expand cooperation in mining and minerals, as it seeks to meet rising domestic steel demand.
With Argentina, India aims to secure imports of lithium and other critical minerals for New Delhi's state miner NMDC NMDC.NS, the sources said.
The steel ministry and NMDC did not immediately respond to Reuters' emails seeking comment.
Argentina is the world's fourth-largest producer of lithium, a key component in batteries for electric vehicles and renewable energy storage.
In January, the Indian government said it wants to secure stable supplies of key raw materials such as coking coal, lithium, cobalt and rare earth elements as it expands steel production and accelerates its transition to cleaner energy.
Besides meeting rising domestic demand driven by strong economic growth and higher infrastructure spending, India is also seeking to boost steel exports.
New Delhi is diversifying its steel export markets from Europe to Asia and the Middle East to offset the impact of the European Union's carbon tax, driving higher output and greater demand for raw materials.
Amid concerns over securing raw material supplies from overseas, India's steel sector is grappling with a severe gas crisis- spurred by the war in the Middle East - that has threatened production at small steel units, while a unit of the JSW Group has also warned of a potential shutdown.
(Reporting by Neha Arora; editing by Mayank Bhardwaj and Lincoln Feast.)
((neha.dasgupta@tr.com; X: neha_5;))
ROI-Which firms will clean up after the Iran war is finally over?: Maguire
The opinions expressed here are those of the author, a columnist for Reuters.
By Gavin Maguire
LITTLETON, Colorado, March 25 (Reuters) - When the missiles and drones eventually stop flying in the U.S.-Israeli air strikes against Iran, a new contest is likely to get underway: the scramble for contracts to rebuild damaged oil and gas infrastructure and restore shipping lanes - and influence - across the Middle East.
The destruction is not confined to Iran. At least 40 energy assets across nine countries in the Middle East have been "severely or very severely" damaged, with oil and gas fields, refineries and pipelines all expected to take some time to repair, the International Energy Agency head Fatih Birol warned on Monday. He described the crisis as worse than the two oil shocks of the 1970s, as well as the impact of the Russia-Ukraine war on gas, put together.
From engineering specialists lining up to rebuild smashed pipelines to logistics firms able to repair bombed-out ports and terminals, a select group of companies is poised to turn the end of the conflict into the start of a lucrative boom.
Here's a look at which sectors and companies are potential candidates to compete for the scores of energy and port reconstruction projects likely to emerge across the Middle East once the war finally ends and the cleanup campaign begins.
ENGINEERING CONGLOMERATES
Multinational engineering giants will be among the first companies called in to Iran once the fighting stops to help assess the damage and draw up reconstruction plans.
Firms with experience in repairing and constructing oil rigs, refineries, pipelines and natural gas liquefaction plants will play a vital role in Iran's recovery and in restoring revenue flows to the country.
Political affiliations will likely play a role in picking the ultimate winners, with both the Iranian and U.S. governments expected to have strong views on how contracts are divvied up.
Even so, after several weeks of steady bombing there should be plenty of work to go around.
Major U.S. firms with hefty oil and gas engineering and service arms include SLB SLB.N (formerly Schlumberger), Halliburton HAL.N, Baker Hughes BKR.O and Weatherford WFRD.O, alongside the privately held Bechtel Corp.
On the Iranian side, the Khatam-al Anbiya Construction firm - controlled by the Islamic Revolutionary Guard Corps (IRGC) - and the Mapna Group, the country's largest contractor in oil, gas and power, are the obvious domestic candidates.
International firms including Italy's Saipem SPMI.MI, France's Technip TE.PA, India's Larsen and Toubro LART.NS and Dubai-based Sidara also have extensive operations in the Middle East, and so will have the contacts and experience needed to get work underway quickly.
China's state-owned CNPC, United Arab Emirates-based NMDC NMDC.AD and Britain's Petrofac also have a regional presence and can be expected to compete for bids.
OIL & GAS MAJORS
Once pipelines are patched up and energy infrastructure is repaired, the world's oil and gas producers will likely look to step in to resume extraction at well sites and return the region's refineries and liquefied natural gas plants to full operation.
National energy firms throughout the region are likely to feature prominently, including National Iranian Oil Company (NIOC), QatarEnergy, Saudi Aramco 2222.SE and Abu Dhabi National Oil Company (ADNOC).
International majors including top U.S. oil producer Exxon Mobil XOM.N, France's TotalEnergies TTEF.PA and the UK's Shell SHEL.L also have extensive operations throughout the Middle East and will look to protect their positions.
The scale of destruction gives some sense of the opportunity. Israeli strikes hit four units of Iran's South Pars gas field, while Iranian attacks on Qatar's Ras Laffan Industrial City caused extensive damage to LNG facilities that will take years and tens of billions of dollars to restore.
SHIPPING AND UTILITIES
The damage does not stop at the wellhead. Ports, power grids and water systems across the region have all taken hits, requiring an equally critical reconstruction effort.
Large ports in and around Iranian waters have sustained significant damage from recent bombardments, along with scores of naval and merchant vessels.
The Strait of Hormuz - a narrow chokepoint between Iran and Oman through which roughly a fifth of the world's crude oil and LNG passes - has been effectively closed, and reopening it will be a prerequisite for any return to normal global energy flows.
Restoring port facilities and clearing shipping channels will require specialists in harbour reconstruction and marine salvage, with the recovery effort expected to run for years.
On the power side, state-owned Tavanir and the Mapna Group operate most of Iran's electricity generation and transmission networks and will anchor the domestic recovery effort.
Russia's Rosatom, which manages Iran's Bushehr nuclear reactor near recent strike zones, faces a more complex challenge, given that the Kremlin's role in any U.S.-backed reconstruction effort is likely to be contested.
Desalination plants supplying clean water in Iran and Bahrain have also been hit, as have parts of the Israeli electricity grid, widening the scope of the rebuild well beyond Iran's borders.
Even if the fighting stopped today, years of reconstruction work would lie ahead - and when it begins, some companies will be cleaning up in more ways than one.
(The opinions expressed here are those of the author, a columnist for Reuters.)
Enjoying this column? Check out Reuters Open Interest (ROI), your essential new source for global financial commentary. Follow ROI on LinkedIn and X.
And listen to the Morning Bid daily podcast on Apple , Spotify , or the Reuters app . Subscribe to hear Reuters journalists discuss the biggest news in markets and finance 7 days a week.
Satellite images show scope of Iran strikes https://www.reuters.com/pictures/satellite-images-show-scope-iran-strikes-2026-03-17/
Gulf area attacks cause extensive damage to Middle East energy infrastructure https://tmsnrt.rs/4bUKOPO
Oil infrastructure damaged near the Strait of Hormuz https://tmsnrt.rs/4blJxB9
Rolling Reuters graphics coverage of Iran war https://www.reuters.com/graphics/IRAN-CRISIS/OIL-LNG/mopaokxlypa/
(Reporting by Gavin Maguire; Editing by Marguerita Choy)
((gavin.maguire@thomsonreuters.com; +720 295 6101;))
The opinions expressed here are those of the author, a columnist for Reuters.
By Gavin Maguire
LITTLETON, Colorado, March 25 (Reuters) - When the missiles and drones eventually stop flying in the U.S.-Israeli air strikes against Iran, a new contest is likely to get underway: the scramble for contracts to rebuild damaged oil and gas infrastructure and restore shipping lanes - and influence - across the Middle East.
The destruction is not confined to Iran. At least 40 energy assets across nine countries in the Middle East have been "severely or very severely" damaged, with oil and gas fields, refineries and pipelines all expected to take some time to repair, the International Energy Agency head Fatih Birol warned on Monday. He described the crisis as worse than the two oil shocks of the 1970s, as well as the impact of the Russia-Ukraine war on gas, put together.
From engineering specialists lining up to rebuild smashed pipelines to logistics firms able to repair bombed-out ports and terminals, a select group of companies is poised to turn the end of the conflict into the start of a lucrative boom.
Here's a look at which sectors and companies are potential candidates to compete for the scores of energy and port reconstruction projects likely to emerge across the Middle East once the war finally ends and the cleanup campaign begins.
ENGINEERING CONGLOMERATES
Multinational engineering giants will be among the first companies called in to Iran once the fighting stops to help assess the damage and draw up reconstruction plans.
Firms with experience in repairing and constructing oil rigs, refineries, pipelines and natural gas liquefaction plants will play a vital role in Iran's recovery and in restoring revenue flows to the country.
Political affiliations will likely play a role in picking the ultimate winners, with both the Iranian and U.S. governments expected to have strong views on how contracts are divvied up.
Even so, after several weeks of steady bombing there should be plenty of work to go around.
Major U.S. firms with hefty oil and gas engineering and service arms include SLB SLB.N (formerly Schlumberger), Halliburton HAL.N, Baker Hughes BKR.O and Weatherford WFRD.O, alongside the privately held Bechtel Corp.
On the Iranian side, the Khatam-al Anbiya Construction firm - controlled by the Islamic Revolutionary Guard Corps (IRGC) - and the Mapna Group, the country's largest contractor in oil, gas and power, are the obvious domestic candidates.
International firms including Italy's Saipem SPMI.MI, France's Technip TE.PA, India's Larsen and Toubro LART.NS and Dubai-based Sidara also have extensive operations in the Middle East, and so will have the contacts and experience needed to get work underway quickly.
China's state-owned CNPC, United Arab Emirates-based NMDC NMDC.AD and Britain's Petrofac also have a regional presence and can be expected to compete for bids.
OIL & GAS MAJORS
Once pipelines are patched up and energy infrastructure is repaired, the world's oil and gas producers will likely look to step in to resume extraction at well sites and return the region's refineries and liquefied natural gas plants to full operation.
National energy firms throughout the region are likely to feature prominently, including National Iranian Oil Company (NIOC), QatarEnergy, Saudi Aramco 2222.SE and Abu Dhabi National Oil Company (ADNOC).
International majors including top U.S. oil producer Exxon Mobil XOM.N, France's TotalEnergies TTEF.PA and the UK's Shell SHEL.L also have extensive operations throughout the Middle East and will look to protect their positions.
The scale of destruction gives some sense of the opportunity. Israeli strikes hit four units of Iran's South Pars gas field, while Iranian attacks on Qatar's Ras Laffan Industrial City caused extensive damage to LNG facilities that will take years and tens of billions of dollars to restore.
SHIPPING AND UTILITIES
The damage does not stop at the wellhead. Ports, power grids and water systems across the region have all taken hits, requiring an equally critical reconstruction effort.
Large ports in and around Iranian waters have sustained significant damage from recent bombardments, along with scores of naval and merchant vessels.
The Strait of Hormuz - a narrow chokepoint between Iran and Oman through which roughly a fifth of the world's crude oil and LNG passes - has been effectively closed, and reopening it will be a prerequisite for any return to normal global energy flows.
Restoring port facilities and clearing shipping channels will require specialists in harbour reconstruction and marine salvage, with the recovery effort expected to run for years.
On the power side, state-owned Tavanir and the Mapna Group operate most of Iran's electricity generation and transmission networks and will anchor the domestic recovery effort.
Russia's Rosatom, which manages Iran's Bushehr nuclear reactor near recent strike zones, faces a more complex challenge, given that the Kremlin's role in any U.S.-backed reconstruction effort is likely to be contested.
Desalination plants supplying clean water in Iran and Bahrain have also been hit, as have parts of the Israeli electricity grid, widening the scope of the rebuild well beyond Iran's borders.
Even if the fighting stopped today, years of reconstruction work would lie ahead - and when it begins, some companies will be cleaning up in more ways than one.
(The opinions expressed here are those of the author, a columnist for Reuters.)
Enjoying this column? Check out Reuters Open Interest (ROI), your essential new source for global financial commentary. Follow ROI on LinkedIn and X.
And listen to the Morning Bid daily podcast on Apple , Spotify , or the Reuters app . Subscribe to hear Reuters journalists discuss the biggest news in markets and finance 7 days a week.
Satellite images show scope of Iran strikes https://www.reuters.com/pictures/satellite-images-show-scope-iran-strikes-2026-03-17/
Gulf area attacks cause extensive damage to Middle East energy infrastructure https://tmsnrt.rs/4bUKOPO
Oil infrastructure damaged near the Strait of Hormuz https://tmsnrt.rs/4blJxB9
Rolling Reuters graphics coverage of Iran war https://www.reuters.com/graphics/IRAN-CRISIS/OIL-LNG/mopaokxlypa/
(Reporting by Gavin Maguire; Editing by Marguerita Choy)
((gavin.maguire@thomsonreuters.com; +720 295 6101;))
Rail Vikas Receives LoA From NMDC For Refurbishment At Kirandul & Bacheli
March 16 (Reuters) - Rail Vikas Nigam Ltd RAIV.NS:
RECEIVES LOA FROM NMDC FOR REFURBISHMENT AT KIRANDUL & BACHELI
GETS LOA WORTH 952.7 MILLION RUPEES
Source text: ID:nBSEbBFCZ6
Further company coverage: RAIV.NS
March 16 (Reuters) - Rail Vikas Nigam Ltd RAIV.NS:
RECEIVES LOA FROM NMDC FOR REFURBISHMENT AT KIRANDUL & BACHELI
GETS LOA WORTH 952.7 MILLION RUPEES
Source text: ID:nBSEbBFCZ6
Further company coverage: RAIV.NS
India's NMDC gains on raising iron ore, product prices
** Shares of NMDC NMDC.NS rise 2.6% to 80.48 rupees
** The iron ore producer raises iron ore prices
** Baila lump prices raised to 4,800 rupees per ton from 4,700 rupees per ton
** Hikes baila fines prices to 4,050 rupees per ton from 4,000 rupees per ton
** Baila lump and baila fines are iron ore products mined by NMDC
** YTD, NMDC down 3.2%
(Reporting by Vijay Malkar)
** Shares of NMDC NMDC.NS rise 2.6% to 80.48 rupees
** The iron ore producer raises iron ore prices
** Baila lump prices raised to 4,800 rupees per ton from 4,700 rupees per ton
** Hikes baila fines prices to 4,050 rupees per ton from 4,000 rupees per ton
** Baila lump and baila fines are iron ore products mined by NMDC
** YTD, NMDC down 3.2%
(Reporting by Vijay Malkar)
NMDC Total February 2026 Production 5.35 MT, Sales 4.60 MT
March 2 (Reuters) - NMDC Ltd NMDC.NS:
TOTAL FEBRUARY 2026 PRODUCTION 5.35 MT, SALES 4.60 MT
Source text: ID:nNSE2XxYh7
Further company coverage: NMDC.NS
March 2 (Reuters) - NMDC Ltd NMDC.NS:
TOTAL FEBRUARY 2026 PRODUCTION 5.35 MT, SALES 4.60 MT
Source text: ID:nNSE2XxYh7
Further company coverage: NMDC.NS
India looks to Middle East, Asia to cushion EU carbon tax blow to steel exports
India looks to diversify steel exports
EU accounts for two-thirds of India's steel exports
State firms step up drive to secure critical mineral supplies
By Neha Arora
NEW DELHI, Feb 17 (Reuters) - India is seeking new steel export markets in the Middle East and Asia to offset the impact of the European Union's carbon tax that took effect in January, a government source said.
India, the world's second-biggest producer of crude steel, ships roughly two-thirds of its steel exports to Europe, where flows have come under pressure following the EU's Carbon Border Adjustment Mechanism.
Last week, Steel Secretary Sandeep Poundrik said the government would have to take action to support exports hit by Europe's carbon tax.
"For exports, we are looking at new markets and we are trying to get agreements with countries in the Middle East where a lot of infrastructure is coming up, and also in Asia," said the source directly involved in decision-making, declining to be identified as the deliberations are confidential.
"Till now, our exports were focussed on Europe but we are trying to diversify," the source added.
India's federal Ministry of Steel did not respond to an email seeking comment.
Mills are looking for government support to help them compete in non-EU markets where China has been dominant, a senior executive at a major steel firm said.
Steel exports from China, the world's largest producer, have been resilient since 2023 and hit a record monthly high in December. Beijing plans to roll out a licence system this year to regulate alloy exports, as strong shipments have fuelled a growing protectionist backlash globally.
SECURING RAW MATERIAL
Explaining India's widening efforts to secure supplies of raw materials such as coking coal, limestone, manganese and other critical minerals, the source said New Delhi was increasingly pursuing long-term offtake agreements and asset acquisitions.
State-run Steel Authority of India (SAIL) SAIL.NS and miner NMDC NMDC.NS are looking at Brazil, Argentina, Australia and the Middle East, the source said.
SAIL and NMDC did not respond to emails seeking comment.
"For coking coal asset acquisition, we are looking at Australia," the source said.
Currently, around 95% of the sector's coking coal requirements is met through imports, with Australia supplying more than half.
Last year, NMDC said it was exploring coking coal assets in Indonesia and Australia.
(Reporting by Neha Arora. Editing by Mayank Bhardwaj and Mark Potter)
((neha.dasgupta@tr.com; X: neha_5;))
India looks to diversify steel exports
EU accounts for two-thirds of India's steel exports
State firms step up drive to secure critical mineral supplies
By Neha Arora
NEW DELHI, Feb 17 (Reuters) - India is seeking new steel export markets in the Middle East and Asia to offset the impact of the European Union's carbon tax that took effect in January, a government source said.
India, the world's second-biggest producer of crude steel, ships roughly two-thirds of its steel exports to Europe, where flows have come under pressure following the EU's Carbon Border Adjustment Mechanism.
Last week, Steel Secretary Sandeep Poundrik said the government would have to take action to support exports hit by Europe's carbon tax.
"For exports, we are looking at new markets and we are trying to get agreements with countries in the Middle East where a lot of infrastructure is coming up, and also in Asia," said the source directly involved in decision-making, declining to be identified as the deliberations are confidential.
"Till now, our exports were focussed on Europe but we are trying to diversify," the source added.
India's federal Ministry of Steel did not respond to an email seeking comment.
Mills are looking for government support to help them compete in non-EU markets where China has been dominant, a senior executive at a major steel firm said.
Steel exports from China, the world's largest producer, have been resilient since 2023 and hit a record monthly high in December. Beijing plans to roll out a licence system this year to regulate alloy exports, as strong shipments have fuelled a growing protectionist backlash globally.
SECURING RAW MATERIAL
Explaining India's widening efforts to secure supplies of raw materials such as coking coal, limestone, manganese and other critical minerals, the source said New Delhi was increasingly pursuing long-term offtake agreements and asset acquisitions.
State-run Steel Authority of India (SAIL) SAIL.NS and miner NMDC NMDC.NS are looking at Brazil, Argentina, Australia and the Middle East, the source said.
SAIL and NMDC did not respond to emails seeking comment.
"For coking coal asset acquisition, we are looking at Australia," the source said.
Currently, around 95% of the sector's coking coal requirements is met through imports, with Australia supplying more than half.
Last year, NMDC said it was exploring coking coal assets in Indonesia and Australia.
(Reporting by Neha Arora. Editing by Mayank Bhardwaj and Mark Potter)
((neha.dasgupta@tr.com; X: neha_5;))
NMDC Says Baila Lump Iron Ore Priced At 4,700 Rupees Per Ton As On Feb 10
Feb 10 (Reuters) - NMDC Ltd NMDC.NS:
NMDC - BAILA LUMP IRON ORE PRICED AT 4,700 RUPEES PER TON AS ON FEB 10
Source text: ID:nNSE380TlK
Further company coverage: NMDC.NS
Feb 10 (Reuters) - NMDC Ltd NMDC.NS:
NMDC - BAILA LUMP IRON ORE PRICED AT 4,700 RUPEES PER TON AS ON FEB 10
Source text: ID:nNSE380TlK
Further company coverage: NMDC.NS
NMDC Posts Q3 Profit Of 17.47 Billion Rupees
Feb 3 (Reuters) - NMDC Ltd NMDC.NS:
Q3 PROFIT 17.47 BILLION RUPEES
DIVIDEND 2.50 RUPEES PER SHARE
Q3 REVENUE FROM OPERATIONS 76.11 BILLION RUPEES
Further company coverage: NMDC.NS
Feb 3 (Reuters) - NMDC Ltd NMDC.NS:
Q3 PROFIT 17.47 BILLION RUPEES
DIVIDEND 2.50 RUPEES PER SHARE
Q3 REVENUE FROM OPERATIONS 76.11 BILLION RUPEES
Further company coverage: NMDC.NS
India's NMDC exploring coal reserves in Canada to boost steel capacity, minister says
Jan 29 (Reuters) - Indian state-run miner NMDC NMDS.NS is "actively exploring" coal reserves in Canada to boost the country's steel manufacturing capacity, India's steel minister H.D. Kumaraswamy said on Thursday.
The comments came after Kumaraswamy held a bilateral meeting with Canada's Minister of Natural Resources Tim Hodgson to deepen cooperation in critical minerals, clean mobility, advanced manufacturing and sustainable industrial development, the government said in a statement.
India wants to secure stable supplies of key raw materials such as coking coal, lithium, cobalt and rare earth elements as it expands steel production and accelerates its transition to cleaner energy, the statement added.
(Reporting by Surbhi Misra in Bengaluru, Editing by Louise Heavens)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
Jan 29 (Reuters) - Indian state-run miner NMDC NMDS.NS is "actively exploring" coal reserves in Canada to boost the country's steel manufacturing capacity, India's steel minister H.D. Kumaraswamy said on Thursday.
The comments came after Kumaraswamy held a bilateral meeting with Canada's Minister of Natural Resources Tim Hodgson to deepen cooperation in critical minerals, clean mobility, advanced manufacturing and sustainable industrial development, the government said in a statement.
India wants to secure stable supplies of key raw materials such as coking coal, lithium, cobalt and rare earth elements as it expands steel production and accelerates its transition to cleaner energy, the statement added.
(Reporting by Surbhi Misra in Bengaluru, Editing by Louise Heavens)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
NMDC Commences Mining Operations At Tokisud North Coal Mine
Jan 23 (Reuters) - NMDC Ltd NMDC.NS:
COMMENCES MINING OPERATIONS AT TOKISUD NORTH COAL MINE
Source text: ID:nNSE9XFQFR
Further company coverage: NMDC.NS
Jan 23 (Reuters) - NMDC Ltd NMDC.NS:
COMMENCES MINING OPERATIONS AT TOKISUD NORTH COAL MINE
Source text: ID:nNSE9XFQFR
Further company coverage: NMDC.NS
NMDC Says Baila Lump Iron Ore Priced At 4,600 Rupees Per Ton
Jan 9 (Reuters) - NMDC Ltd NMDC.NS:
BAILA LUMP IRON ORE PRICED AT 4,600 RUPEES PER TON EFFECTIVE JAN 9
BAILA FINES IRON ORE PRICED AT 3,900 RUPEES PER TON EFFECTIVE JAN 9
Source text: ID:nNSE6ly7jV
Further company coverage: NMDC.NS
Jan 9 (Reuters) - NMDC Ltd NMDC.NS:
BAILA LUMP IRON ORE PRICED AT 4,600 RUPEES PER TON EFFECTIVE JAN 9
BAILA FINES IRON ORE PRICED AT 3,900 RUPEES PER TON EFFECTIVE JAN 9
Source text: ID:nNSE6ly7jV
Further company coverage: NMDC.NS
India's NMDC gains on higher monthly production, sales
** Shares of NMDC NMDC.NS rise 2% to 71 rupees
** Stock is top pct gainer on Nifty Metal index .NIFTYMET, which is up 0.3%
** State-run miner's Aug 2025 iron ore production rose 10% sales grew 8%
** NMDC rated "hold" on average by 16 analysts; median target price is 80 rupees – data compiled by LSEG
** YTD, stock up 7.6% vs Nifty Metal's 7.9% rise
(Reporting by Rudra Pratap Singh in Bengaluru)
** Shares of NMDC NMDC.NS rise 2% to 71 rupees
** Stock is top pct gainer on Nifty Metal index .NIFTYMET, which is up 0.3%
** State-run miner's Aug 2025 iron ore production rose 10% sales grew 8%
** NMDC rated "hold" on average by 16 analysts; median target price is 80 rupees – data compiled by LSEG
** YTD, stock up 7.6% vs Nifty Metal's 7.9% rise
(Reporting by Rudra Pratap Singh in Bengaluru)
NMDC Says Iron Ore Price For Baila Fines Set At 5,250 Rupees/Ton
Aug 1 (Reuters) - NMDC Ltd NMDC.NS:
IRON ORE PRICE FOR BAILA FINES SET AT 5,250 RUPEES/TON
IRON ORE PRICE FOR BAILA LUMP SET AT 6,100 RUPEES/TON
Source text: ID:nNSE4j6fYc
Further company coverage: NMDC.NS
Aug 1 (Reuters) - NMDC Ltd NMDC.NS:
IRON ORE PRICE FOR BAILA FINES SET AT 5,250 RUPEES/TON
IRON ORE PRICE FOR BAILA LUMP SET AT 6,100 RUPEES/TON
Source text: ID:nNSE4j6fYc
Further company coverage: NMDC.NS
Indian miner NMDC to explore critical minerals acquisition
By Neha Arora
July 1 (Reuters) - Indian state-owned miner NMDC NMDC.NS on Tuesday said it is exploring acquisition opportunities for critical minerals in Africa, Australia and South America, as part of its global mineral diversification strategy.
(Reporting by Anuran Sadhu in Bengaluru; Editing by Mrigank Dhaniwala)
((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))
By Neha Arora
July 1 (Reuters) - Indian state-owned miner NMDC NMDC.NS on Tuesday said it is exploring acquisition opportunities for critical minerals in Africa, Australia and South America, as part of its global mineral diversification strategy.
(Reporting by Anuran Sadhu in Bengaluru; Editing by Mrigank Dhaniwala)
((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))
India's NMDC falls as softer prices weigh on Q4 results
** Shares of Indian miner NMDC NMDC.NS jump fall 2.5% to 70 rupees
** Stock is top loser in nifty metal index .NIFTYMET, which is 0.4%
** NMDC on Tuesday posts Q4 profit before exceptional items and tax of 23.51 bln rupees ($275.6 mln), down 3.5% y/y hurt by lower product prices
** Rev from ops rose 7% mainly due to higher sales in its pellets unit
** Stock eyes a second straight session of losses, if trend holds
** NMDC rose ~10% YTD, vs a ~7% rise in NIFTYMET
(Reporting by Yagnoseni Das in Bengaluru)
** Shares of Indian miner NMDC NMDC.NS jump fall 2.5% to 70 rupees
** Stock is top loser in nifty metal index .NIFTYMET, which is 0.4%
** NMDC on Tuesday posts Q4 profit before exceptional items and tax of 23.51 bln rupees ($275.6 mln), down 3.5% y/y hurt by lower product prices
** Rev from ops rose 7% mainly due to higher sales in its pellets unit
** Stock eyes a second straight session of losses, if trend holds
** NMDC rose ~10% YTD, vs a ~7% rise in NIFTYMET
(Reporting by Yagnoseni Das in Bengaluru)
NMDC Q4 Profit 14.96 Billion Rupees
May 27 (Reuters) - NMDC Ltd NMDC.NS:
NMDC Q4 PROFIT 14.96 BILLION RUPEES
NMDC Q4 REVENUE FROM OPERATIONS 69.53 BILLION RUPEES
NMDC - DIVIDEND OF 1 RUPEEPER SHARE
Source text: [ID:]
Further company coverage: NMDC.NS
May 27 (Reuters) - NMDC Ltd NMDC.NS:
NMDC Q4 PROFIT 14.96 BILLION RUPEES
NMDC Q4 REVENUE FROM OPERATIONS 69.53 BILLION RUPEES
NMDC - DIVIDEND OF 1 RUPEEPER SHARE
Source text: [ID:]
Further company coverage: NMDC.NS
NMDC April Total Production 4.00 MT
May 2 (Reuters) - NMDC Ltd NMDC.NS:
NMDC - APRIL TOTAL PRODUCTION 4.00 MT
NMDC - APRIL SALES AT 3.63 MT
Source text: ID:nnAZN3RVXOZ
Further company coverage: NMDC.NS
May 2 (Reuters) - NMDC Ltd NMDC.NS:
NMDC - APRIL TOTAL PRODUCTION 4.00 MT
NMDC - APRIL SALES AT 3.63 MT
Source text: ID:nnAZN3RVXOZ
Further company coverage: NMDC.NS
India urging firms to acquire overseas iron ore, coking coal assets, official says
Adds official quotes, details, background on India's steel capacity, coking coal imports in paragraphs 2-8
By Neha Arora
MUMBAI, April 26 (Reuters) - India is encouraging companies to acquire iron ore, coking coal, and other key raw material assets overseas, Steel Secretary Sandeep Poundrik said on Saturday, as the country ramps up its steelmaking capacity to meet rising demand.
"We are encouraging our companies to acquire assets abroad, right from iron ore to coking coal to even limestone and dolomite," Poundrik said at an industry event in Mumbai. "Raw material securitisation is the most important aspect of steelmaking."
India, the world's second-largest producer of crude steel, aims to boost its overall steelmaking capacity to 300 million tons by 2030, up from about 200 million tons currently.
To support this expansion, coking coal imports are projected to rise to 160 million tons by 2030 from around 58 million tons now, Poundrik had projected on Friday.
Despite an uptick in steel output, India's coking coal imports dipped 0.7% in the fiscal year ended in March due to lower shipments from Australia and the United States, said commodities consultancy BigMint.
India relies on imports to meet 85% of its coking coal needs, with Australia supplying more than half of those shipments.
In a bid to diversify supply, India has also been exploring partnerships with Mongolia. However, logistical challenges remain in sourcing material from the landlocked country, Poundrik noted.
India's state-run miner NMDC NMDC.NS is exploring coking coal assets, in Indonesia and Australia, Chairman Amitava Mukherjee said on Thursday.
(Reporting Neha Arora; Writing by Sethuraman NR; Editing by William Mallard)
((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))
Adds official quotes, details, background on India's steel capacity, coking coal imports in paragraphs 2-8
By Neha Arora
MUMBAI, April 26 (Reuters) - India is encouraging companies to acquire iron ore, coking coal, and other key raw material assets overseas, Steel Secretary Sandeep Poundrik said on Saturday, as the country ramps up its steelmaking capacity to meet rising demand.
"We are encouraging our companies to acquire assets abroad, right from iron ore to coking coal to even limestone and dolomite," Poundrik said at an industry event in Mumbai. "Raw material securitisation is the most important aspect of steelmaking."
India, the world's second-largest producer of crude steel, aims to boost its overall steelmaking capacity to 300 million tons by 2030, up from about 200 million tons currently.
To support this expansion, coking coal imports are projected to rise to 160 million tons by 2030 from around 58 million tons now, Poundrik had projected on Friday.
Despite an uptick in steel output, India's coking coal imports dipped 0.7% in the fiscal year ended in March due to lower shipments from Australia and the United States, said commodities consultancy BigMint.
India relies on imports to meet 85% of its coking coal needs, with Australia supplying more than half of those shipments.
In a bid to diversify supply, India has also been exploring partnerships with Mongolia. However, logistical challenges remain in sourcing material from the landlocked country, Poundrik noted.
India's state-run miner NMDC NMDC.NS is exploring coking coal assets, in Indonesia and Australia, Chairman Amitava Mukherjee said on Thursday.
(Reporting Neha Arora; Writing by Sethuraman NR; Editing by William Mallard)
((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))
India's NMDC exploring coking coal assets in Indonesia, Australia, chairman says
Adds executive comments and details from paragraph 2 onwards
By Neha Arora
MUMBAI, April 24 (Reuters) - Indian miner NMDC NMDC.NS is exploring coking coal assets, key ingredient used for making iron ore and steel, in Indonesia and Australia, Chairman Amitava Mukherjee said on Thursday.
India, the world's second-largest producer of crude steel, meets 85% of its coking coal requirements through imports. Australia accounts for more than half of the country's coking coal imports.
The company is looking at this as a business opportunity, Mukherjee said. "They (explorations) are in different stages of negotiations." He did not disclose the details of these talks due to confidentiality.
State-owned NMDC is India's largest iron ore miner with four operational mines across the country.
The country's top steelmaker JSW Steel's JSTL.NS CEO Jayant Acharya had told Reuters earlier in the day that the company sources coking coal from Australia, the United States and Mozambique. State-owned SAIL SAIL.NS also procures coking coal from countries such as Mongolia.
Coking coal has traditionally been a volatile commodity because of its dominance in exports and the variability of weather, according to commodity consultancy firm BigMint.
In 2023, erratic weather conditions hit coking coal supplies from Australia.
(Reporting by Neha Arora in Mumbai, and Manvi Pant in Bengaluru; Editing by Mrigank Dhaniwala and Shilpi Majumdar)
((Manvi.Pant@thomsonreuters.com; +918447554364;))
Adds executive comments and details from paragraph 2 onwards
By Neha Arora
MUMBAI, April 24 (Reuters) - Indian miner NMDC NMDC.NS is exploring coking coal assets, key ingredient used for making iron ore and steel, in Indonesia and Australia, Chairman Amitava Mukherjee said on Thursday.
India, the world's second-largest producer of crude steel, meets 85% of its coking coal requirements through imports. Australia accounts for more than half of the country's coking coal imports.
The company is looking at this as a business opportunity, Mukherjee said. "They (explorations) are in different stages of negotiations." He did not disclose the details of these talks due to confidentiality.
State-owned NMDC is India's largest iron ore miner with four operational mines across the country.
The country's top steelmaker JSW Steel's JSTL.NS CEO Jayant Acharya had told Reuters earlier in the day that the company sources coking coal from Australia, the United States and Mozambique. State-owned SAIL SAIL.NS also procures coking coal from countries such as Mongolia.
Coking coal has traditionally been a volatile commodity because of its dominance in exports and the variability of weather, according to commodity consultancy firm BigMint.
In 2023, erratic weather conditions hit coking coal supplies from Australia.
(Reporting by Neha Arora in Mumbai, and Manvi Pant in Bengaluru; Editing by Mrigank Dhaniwala and Shilpi Majumdar)
((Manvi.Pant@thomsonreuters.com; +918447554364;))
NMDC Says Anonymous Complaint Reported In News Article False, Baseless
April 7 (Reuters) - NMDC Ltd NMDC.NS:
NMDC - ANONYMOUS COMPLAINT REPORTED IN NEWS ARTICLE FALSE, BASELESS
Source text: ID:nnAZN3O6NTG
Further company coverage: NMDC.NS
April 7 (Reuters) - NMDC Ltd NMDC.NS:
NMDC - ANONYMOUS COMPLAINT REPORTED IN NEWS ARTICLE FALSE, BASELESS
Source text: ID:nnAZN3O6NTG
Further company coverage: NMDC.NS
NMDC Says Federation Of Unions Asked Their Members To Resume Duties Fully
March 21 (Reuters) - NMDC Ltd NMDC.NS:
NMDC - FEDERATION OF UNIONS ASKED THEIR MEMBERS TO RESUME DUTIES FULLY
NMDC - EMPLOYEES HAVE RESUMED DUTIES, NORMAL OPERATIONS HAVE RESUMED AT ALL PROJECTS
Source text: ID:nNSE55ryJX
Further company coverage: NMDC.NS
March 21 (Reuters) - NMDC Ltd NMDC.NS:
NMDC - FEDERATION OF UNIONS ASKED THEIR MEMBERS TO RESUME DUTIES FULLY
NMDC - EMPLOYEES HAVE RESUMED DUTIES, NORMAL OPERATIONS HAVE RESUMED AT ALL PROJECTS
Source text: ID:nNSE55ryJX
Further company coverage: NMDC.NS
India steel minister says no decision on KIOCL, NMDC merger
NEW DELHI, March 11 (Reuters) - India has not taken any decision to merge KIOCL KIOC.NS and NMDC NMDC.NS, junior Steel Minister Bhupathiraju Srinivasa Varma said in a written response in parliament on Tuesday.
The steel ministry had proposed a merger of the miners in January, but the divestment department informed that "there is no such decision" at present, Varma said.
(Reporting by Hritam Mukherjee in New Delhi; Editing by Muralikumar Anantharaman)
((Hritam.Mukherjee@thomsonreuters.com; X: @MukherjeeHritam;))
NEW DELHI, March 11 (Reuters) - India has not taken any decision to merge KIOCL KIOC.NS and NMDC NMDC.NS, junior Steel Minister Bhupathiraju Srinivasa Varma said in a written response in parliament on Tuesday.
The steel ministry had proposed a merger of the miners in January, but the divestment department informed that "there is no such decision" at present, Varma said.
(Reporting by Hritam Mukherjee in New Delhi; Editing by Muralikumar Anantharaman)
((Hritam.Mukherjee@thomsonreuters.com; X: @MukherjeeHritam;))
NMDC Says Amitava Mukherjee Appointed As Chairman & Managing Director
March 6 (Reuters) - NMDC Ltd NMDC.NS:
NMDC - AMITAVA MUKHERJEE APPOINTED AS CHAIRMAN & MANAGING DIRECTOR
Source text: [ID:]
Further company coverage: NMDC.NS
March 6 (Reuters) - NMDC Ltd NMDC.NS:
NMDC - AMITAVA MUKHERJEE APPOINTED AS CHAIRMAN & MANAGING DIRECTOR
Source text: [ID:]
Further company coverage: NMDC.NS
Indian miner NMDC posts higher quarterly profit on strong prices
Feb 6 (Reuters) - Indian state-owned miner NMDC NMDC.NS reported a higher third-quarter profit on Thursday, aided by price hikes during the period.
The iron ore miner reported a 30% year-on-year rise in profit to 19.44 billion rupees ($222 million) for the October-December quarter.
NMDC increased the prices of iron ore twice during the quarter, resulting in an average price of 4,377 rupees per tonne, up nearly 17% on-year, according to data from JM Financial Institutional Securities.
Last month, JSW Steel JSTL.NS, which primarily procures iron ore from NMDC, said that escalating prices of iron ore have partially offset a decline in costs due to falling coking coal prices.
NMDC's revenue from operations rose 21% to 65.31 billion rupees in the third quarter.
($1 = 87.5280 Indian rupees)
(Reporting by Manvi Pant in Bengaluru)
((Manvi.Pant@thomsonreuters.com; +918447554364;))
Feb 6 (Reuters) - Indian state-owned miner NMDC NMDC.NS reported a higher third-quarter profit on Thursday, aided by price hikes during the period.
The iron ore miner reported a 30% year-on-year rise in profit to 19.44 billion rupees ($222 million) for the October-December quarter.
NMDC increased the prices of iron ore twice during the quarter, resulting in an average price of 4,377 rupees per tonne, up nearly 17% on-year, according to data from JM Financial Institutional Securities.
Last month, JSW Steel JSTL.NS, which primarily procures iron ore from NMDC, said that escalating prices of iron ore have partially offset a decline in costs due to falling coking coal prices.
NMDC's revenue from operations rose 21% to 65.31 billion rupees in the third quarter.
($1 = 87.5280 Indian rupees)
(Reporting by Manvi Pant in Bengaluru)
((Manvi.Pant@thomsonreuters.com; +918447554364;))
Indian miner NMDC rises on unveiling over $8 billion capex plan to vendors
** Shares of Indian miner NMDC NMDC.NS jump ~3% to 66 rupees
** Co unveiled to vendors its 700 billion rupee ($8.09 billion) capex plan for the next 5 years in bid to increase production capacity to 100 million metric tons by 2030
** Stock on track to log gains for the first session in four, and has lost 0.8% so far in Jan
($1 = 86.5700 Indian rupees)
(Reporting by Hritam Mukherjee in Bengaluru)
** Shares of Indian miner NMDC NMDC.NS jump ~3% to 66 rupees
** Co unveiled to vendors its 700 billion rupee ($8.09 billion) capex plan for the next 5 years in bid to increase production capacity to 100 million metric tons by 2030
** Stock on track to log gains for the first session in four, and has lost 0.8% so far in Jan
($1 = 86.5700 Indian rupees)
(Reporting by Hritam Mukherjee in Bengaluru)
NMDC Shares 700 Billion Rupees Capex Plan With Vendors
Jan 28 (Reuters) - NMDC Ltd NMDC.NS:
SHARES 700 BILLION RUPEES CAPEX PLAN WITH VENDORS
Further company coverage: NMDC.NS
Jan 28 (Reuters) - NMDC Ltd NMDC.NS:
SHARES 700 BILLION RUPEES CAPEX PLAN WITH VENDORS
Further company coverage: NMDC.NS
India's NMDC to extract diamonds worth $3.4 mln from mine near tiger reserve
By Neha Arora
NEW DELHI, Jan 20 (Reuters) - India's state-run miner NMDC is expected to extract 6,500 carats of diamonds, worth $3.4 million, this fiscal year from ores in a mine near a tiger reserve, after receiving mining clearances last year, two sources said.
The miner faced delays in securing environmental clearances and had to halt mining for over three years at the Panna mine in the central state of Madhya Pradesh due to its proximity to the tiger reserve.
The Supreme Court later permitted NMDC NMDC.NS to mine, subject to certain guidelines, paving the way for the company to resume operations.
NMDC, which has not yet started new rounds of mining, is focusing on extracting and processing diamonds from ore stockpiles at its Panna mine, the sources said.
"We will start ore mining from the mines in two-three months, and in the meanwhile diamonds are processed through feeding of old stockpiles," the company told Reuters in an e-mailed statement.
Since resuming operations, the company has extracted diamonds worth 3,700 carats or $1.93 million from the ore, said the sources, who did not wish to named before NMDC publicly shared its diamond output data.
The mine, covering an area of 275.96 hectares (681.91 acres), first began operations in the early 1970s and is the only mechanised diamond mine in the country.
Madhya Pradesh state is among the major diamond mining regions in Asia.
Global and domestic mining companies have also tried to mine diamonds at the Bunder project, near the Panna reserve in Madhya Pradesh, but with little success.
Before exiting the Bunder project in 2016-17, Anglo-Australian mining giant Rio Tinto spent about $90 million over 14 years on the mine.
Since Rio Tinto's departure, mining has not started at the Bunder project, largely due to concerns over its location in a forested area home to tigers and other wildlife.
(Reporting by Neha Arora; editing by Mayank Bhardwaj and Bernadette Baum)
((neha.dasgupta@tr.com;))
By Neha Arora
NEW DELHI, Jan 20 (Reuters) - India's state-run miner NMDC is expected to extract 6,500 carats of diamonds, worth $3.4 million, this fiscal year from ores in a mine near a tiger reserve, after receiving mining clearances last year, two sources said.
The miner faced delays in securing environmental clearances and had to halt mining for over three years at the Panna mine in the central state of Madhya Pradesh due to its proximity to the tiger reserve.
The Supreme Court later permitted NMDC NMDC.NS to mine, subject to certain guidelines, paving the way for the company to resume operations.
NMDC, which has not yet started new rounds of mining, is focusing on extracting and processing diamonds from ore stockpiles at its Panna mine, the sources said.
"We will start ore mining from the mines in two-three months, and in the meanwhile diamonds are processed through feeding of old stockpiles," the company told Reuters in an e-mailed statement.
Since resuming operations, the company has extracted diamonds worth 3,700 carats or $1.93 million from the ore, said the sources, who did not wish to named before NMDC publicly shared its diamond output data.
The mine, covering an area of 275.96 hectares (681.91 acres), first began operations in the early 1970s and is the only mechanised diamond mine in the country.
Madhya Pradesh state is among the major diamond mining regions in Asia.
Global and domestic mining companies have also tried to mine diamonds at the Bunder project, near the Panna reserve in Madhya Pradesh, but with little success.
Before exiting the Bunder project in 2016-17, Anglo-Australian mining giant Rio Tinto spent about $90 million over 14 years on the mine.
Since Rio Tinto's departure, mining has not started at the Bunder project, largely due to concerns over its location in a forested area home to tigers and other wildlife.
(Reporting by Neha Arora; editing by Mayank Bhardwaj and Bernadette Baum)
((neha.dasgupta@tr.com;))
Events:
Dividend
Dividend
Dividend
Bonus
Dividend
Dividend
Dividend
Dividend
Dividend
Dividend
Dividend
Dividend
Dividend
Dividend
Dividend
Dividend
Dividend
Dividend
Dividend
Dividend
Dividend
Dividend
More Mid Cap Ideas
See similar 'Mid' cap companies with recent activity
Promoter Buying
Companies where the promoters are bullish
Capex
Companies investing on expansion
Superstar Investor
Companies where well known investors have invested
Popular questions
-
Business
-
Financials
-
Share Price
-
Shareholdings
What does NMDC do?
NMDC is India's largest and responsible iron ore producer, with a robust presence in the mining industry. Headquartered in Hyderabad, NMDC operates several mines across India, playing a pivotal role in the country’s mineral development. The company offers a diverse range of high-quality iron ore products, each tailored to meet specific industrial requirements. From coarse and fine iron ores to specialised pellets, NMDC's offerings ensure efficient and optimal performance for various steelmaking and related processes. In addition, NMDC produces rough diamonds that cater to the gem and jewellery industry.
Who are the competitors of NMDC?
NMDC major competitors are Lloyds Metals&Energy, Hindustan Copper, KIOCL, GMDC, Gravita India, Sandur Manganese, Ashapura Minechem. Market Cap of NMDC is ₹68,559 Crs. While the median market cap of its peers are ₹18,522 Crs.
Is NMDC financially stable compared to its competitors?
NMDC seems to be less financially stable compared to its competitors. Altman Z score of NMDC is 4.26 and is ranked 6 out of its 8 competitors.
Does NMDC pay decent dividends?
The company seems to pay a good stable dividend. NMDC latest dividend payout ratio is 44.35% and 3yr average dividend payout ratio is 39.0%
How has NMDC allocated its funds?
Companies resources are allocated to majorly unproductive assets like Accounts Receivable
How strong is NMDC balance sheet?
Balance sheet of NMDC is strong. It shouldn't have solvency or liquidity issues.
Is the profitablity of NMDC improving?
Yes, profit is increasing. The profit of NMDC is ₹6,880 Crs for TTM, ₹6,542 Crs for Mar 2025 and ₹5,575 Crs for Mar 2024.
Is the debt of NMDC increasing or decreasing?
Yes, The net debt of NMDC is increasing. Latest net debt of NMDC is -₹7,397.01 Crs as of Sep-25. This is greater than Mar-25 when it was -₹16,406.65 Crs.
Is NMDC stock expensive?
Yes, NMDC is expensive. Latest PE of NMDC is 9.93, while 3 year average PE is 7.88. Also latest EV/EBITDA of NMDC is 7.06 while 3yr average is 5.54.
Has the share price of NMDC grown faster than its competition?
NMDC has given lower returns compared to its competitors. NMDC has grown at ~5.09% over the last 9yrs while peers have grown at a median rate of 34.18%
Is the promoter bullish about NMDC?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in NMDC is 60.79% and last quarter promoter holding is 60.79%.
Are mutual funds buying/selling NMDC?
The mutual fund holding of NMDC is decreasing. The current mutual fund holding in NMDC is 7.07% while previous quarter holding is 7.16%.