Diversification plan: NMDC scouts for mining assets across four continents
Reported by Economic Times Industry, not nibnow. We are not the publisher of this story, only the source is.
NMDC is diversifying beyond iron ore to secure critical minerals globally, which aims to reduce import dependency and support key Indian manufacturing sectors like renewable energy and electronics.
NMDC is actively seeking mining assets worldwide, including critical minerals to support various industries. The company aims to earn 20 percent of revenues from minerals other than iron ore. This expansion aligns with government initiatives to secure raw material supplies and decrease import dependency. NMDC's strategy is expected to enhance its role in India's manufacturing sectors. Industries such as automotive, renewable energy, and electronics will benefit from these efforts.
State-owned mining companies often expand their portfolios into critical minerals to align with national industrial policies and buffer against commodity price volatility in traditional markets.
- •Announcements regarding specific international mining asset acquisitions or partnerships.
- •Progress on the company goal to achieve 20 percent of its revenues from non-iron ore minerals.