NMDC joins hands with GMDC to explore rare earth minerals deposits

Hyderabad: Navratna mining public sector giant NMDC Ltd has joined hands with state-run PSU Gujarat Mineral Development Corporation (GMDC) to explore opportunities for collaboration in rare earth elements and associated minerals to beef up the country’s critical mineral supply chain.As part of the memorandum of understanding (MoU) inked by the two PSUs, they will work towards exploring rare earth deposits in India, expanding research and development capabilities, and promoting carbon-conscious initiatives in the sector.The MoU also provides for the creation of a steering committee and a working group to assess and advance the proposed areas of cooperation. The collaboration is expected to support the development of rare earth mining and downstream operations across the country.The MoU, which took effect from March 16, 2026, will remain valid for two years. The MoU was inked in the city in the presence of NMDC chairman and managing director Amitava Mukherjee and GMDC managing director Roopwant Singh, along with senior officials of both companies.NMDC CMD Amitava Mukherjee said rare earth elements have become a strategic national priority because of their importance to energy security, defence capability, and India’s self-reliance goals.The companies said they are also considering future options, including a joint venture, a special purpose vehicle, and other strategic business collaborations.