CORPORATE
NMDC explores mines abroad, eyes 20% revenues from non-iron minerals
- IBJ Bureau
- Oct 26, 2026
From South America in the west to Australia in the east, NMDC is scouting for mining assets, including critical minerals, in four continents.
The State-owned iron ore miner has broadened its quest for minerals to meet the future needs of industries such as automotive, renewable energy, electronics and steel, according to industry sources.
NMDC, which caters to a fourth of India’s iron ore demand, has set a goal to earn at least 20 per cent of revenues from sale of minerals other than the key steel-making raw material.
Industry sources add that the mining company is exploring lithium, copper, cobalt and rare earth blocks in Chile (South America), Australia, Africa, Brazil and parts of Asia.
The company is also searching for limestone mines, dolomite, coking coal and tungsten blocks in the UAE, Oman, Bhutan and Australia.
Acquiring these minerals will allow NMDC to cater to major Indian industries on a growth trajectory, such as steel, automobile, electronics, renewable energy, aerospace and defence and railway and metros.
In an earlier interview with the PTI, NMDC Chairman Amitava Mukherjee had confirmed that the company is working on strategies to diversify into selling other minerals as well.
NMDC’s expansion aligns directly with the government’s initiatives aimed at securing long-term raw material supplies and reducing import dependency across economic sectors.
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