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NMDC eyes 30% revenue from new ventures by 2030
15 Jun
Summary
- NMDC aims for 30% revenue from non-iron ore and overseas assets by 2030.
- Company is expanding into coal mining and seeking global acquisitions.
- NMDC plans significant investment in capacity expansion by 2030.
National Mineral Development Corporation (NMDC) Ltd, India's leading iron ore producer, is embarking on a major diversification strategy. The company aims to derive up to 30% of its revenue from non-iron ore minerals and international assets by the year 2030. Currently, iron ore constitutes nearly all of NMDC's revenue.
This diversification involves expanding into coal mining, with one mine operational and another set to commence soon. NMDC also plans to acquire two to three overseas mines by the first half of FY27, with discussions in advanced stages.
NMDC prioritizes steel-making minerals like manganese and coking coal, as well as non-steel-making minerals such as copper and gold. The company intends to invest ₹40,000-50,000 crore by 2030 in capacity expansion projects.
Despite concerns about market share erosion, NMDC projects an increase in iron ore production capacity from 53 million tonnes to 100-110 million tonnes by 2030. The company reported a 34% increase in revenue to ₹32,070.89 crore in FY26.
