Gujarat Mineral Development Corporation
 | |
| Company type | Public BSE: 532181 NSE: GMDCLTD |
|---|---|
| Industry | Mining |
| Founded | 1963 |
| Headquarters | Ahmedabad, Gujarat , India |
Area served | Gujarat |
Key people |
|
| Products | |
| Revenue |  ₹2,734.79 crore (US$330 million)(FY2022) |
| ₹580.57 crore (US$70 million)(FY2022) | |
| ₹404.98 crore (US$49 million)(FY2022) | |
| Owner | Government of Gujarat |
Number of employees |
|
| Website | www |
Gujarat Mineral Development Corporation Limited (GMDC) is a major Indian state-owned minerals and lignite mining company based in Ahmedabad.[1][2] GMDC was founded in 1963.
Its product range includes essential energy minerals like lignite, base metals and industrial minerals like bauxite and fluorspar.[2] Gujarat government has given its green signal to GMDC to form a joint venture with NALCO for a 1 mtpa refinery.[3]
GMDC also owns and runs Akrimota Thermal Power Station, a 250 MW (2x125 MW) lignite-based thermal power plant located in village Nanichher in Lakhpat Taluka, Kutch District.
Product range
[edit]The company has grown in strength since its inception over the years. In 1963 the company commenced its operation with small silica sand quarry. In 1964 it started with bauxite mines in Kutch and now operates six bauxite mines. In 1971, a beneficiation plant was commissioned by GMDC to process 500 M.T of fluorspar ore and to produce calcium fluoride used for the manufacture of Hydro-fluoric acid and as flux in metallurgical industries. A captive mine at Ambadungar was established also to feed the plant. In 1976 lignite was discovered in Gujarat and GMDC started its first lignite mines at Panadhro. In 1980, a captive refining plant with copper mines was set up by GMDC near Ambaji. In 1983, another lignite mine was discovered & started by it at Rajpardi near Bharuch. In 1992, it established a calcination plant to add value to the bauxite mined by it at Gadhsisha in Kutch. In 1996, to use the lignite mined by it, GMDC also started thermal power plant at Nani-Chher in Kutch. In 2005 & 2009 more lignite mines were started by GMDC at Tadkeshwar near Surat and near Bhavnagar, respectively. Also in 2006 it developed manganese ore mines at Shivarajpur in Panchmahals.[1] It is also setting up an Alumina plant with Raytheon Corporation of USA.[2]
Public listing
[edit]In 1999, the government of Gujarat being the sole owner, divested 26% of its stake and the GMDC became a listed entity (BSE&NSE) and is occupying a position within the top fortune 500 companies in our country with an annual turnover surpassing 10 billion with considerable annual growth rate.[1][4][5]
Upcoming Projects
[edit]GMDC is keen to set up a Rare Earth Elements Processing Plant, in the country as REEs are essential for developing green energy technologies like permanent magnets for electric vehicles and wind turbines and LEDs.[6]
References
[edit]- ^ a b c "GMDC LTD". Archived from the original on 9 July 2012. Retrieved 15 May 2011.
- ^ a b c Gujarat Mineral Development Corporation Limited
- ^ "Gujarat minerals body gets govt nod for joint venture with Nalco". 8 June 2012.
- ^ Gujarat Mineral Development Corporation Ltd. BSE | NSE
- ^ Gujarat Mineral Development Corporation Ltd. Stock price THE ECONOMIC TIMES
- ^ "GMDC plans to set up Rare Earth Elements Processing Plant". The Times of India. September 2022.
- Mining companies of India
- Aluminium companies of India
- Coal companies of India
- Copper mining companies of India
- Metal companies of India
- Government-owned companies of India
- Companies based in Ahmedabad
- Companies based in Gujarat
- Non-renewable resource companies established in 1963
- State agencies of Gujarat
- 1963 establishments in Gujarat
- Indian companies established in 1963
- Companies listed on the National Stock Exchange of India
- Companies listed on the Bombay Stock Exchange