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The country's largest iron ore miner NMDC on Thursday said it is pursuing mining opportunities for critical minerals abroad which includes lithium block in Australia. Critical minerals such as copper, lithium, nickel and cobalt are important components in rapidly growing clean energy technologies - from wind turbines and electricity networks to electric vehicles. "NMDC is... pursuing overseas mining opportunities for critical minerals like lithium, cobalt, and nickel through its subsidiary, Legacy India Iron Ore Ltd, which includes lithium mining operations in Australia," the company said in a statement. NMDC is also preparing to begin the production of its eight million tonnes of coking coal block by December next year. This move aims to reduce the country's reliance on the import of coking coal. NMDC is set to nearly double its production capacity to 100 million tonnes (MT) by 2030. This ambitious expansion will significantly enhance the company's infrastructure, operations, an
Country's largest iron ore miner NMDC has reported a 37 per cent fall in its production at 2.34 million tonnes (MnT) in May 2024. It had produced 3.71 MnT of iron ore in the same month last year, the company said in an exchange filing on Saturday. NMDC's monthly sales also declined by 22 per cent to 2.82 MnT in May this year from 3.62 MnT in May 2023. The company's cumulative iron ore output fell to 5.82 MnT in April-May 2024 from 7.22 MnT in the year-ago period. Sales during the said period were at 6.35 MnT, down from 7.05 MnT in April-May 2023. On Tuesday, NMDC had increased the prices of lump ore by Rs 250 a tonne and fines by Rs 350 per tonne with immediate effect. The miner revised the cost of lump ore to Rs 6,450/tonne and fines to Rs 5,610 per tonne. Under the Ministry of Steel, Hyderabad-based NMDC caters to India's around 20 per cent demand for the key steel-making raw material.
Shares of NMDC Steel Limited on Monday got listed on the stock exchanges -- BSE and NSE. The equity shares of the company was also listed on the Calcutta Stock Exchange, NMDC Steel said in a regulatory filing. "The equity shares of NMDC Steel commenced listing and trading today at BSE and NSE," it said. The stock got listed at Rs 30.25 apiece on the BSE. It settled 4.96 per cent higher at Rs 31.75 per share. On the NSE, the company shares debut at Rs 30.25 and closed 4.95 per cent higher. The company's market valuation stood at Rs 9,304.67 crore on the BSE. NMDC Steel is a newly formed entity post its demerger from mining giant NMDC Limited.