Gujarat Mineral Development Corporation Ltd Share Price – NSE /  BSE

Mining & Mineral products, Small Cap

The partnership will assess the potential development of an integrated rare earth value chain in Gujarat, covering exploration, mining, beneficiation, processing and downstream applications. The collaboration will primarily focus on GMDC?s Ambadungar Rare Earth Deposit.

Under the MoU, both organisations will evaluate opportunities for technical collaboration, project development and potential business structures. The partnership is also expected to support knowledge exchange, technical assessments and coordinated efforts to advance rare earth resource development.

The initiative forms part of GMDC?s broader development roadmap for the Ambadungar deposit, where the company has been advancing efforts in resource utilisation, indigenous processing capabilities and pilot-stage technology validation.

The company stated that the initiative aligns with national priorities to strengthen domestic capabilities in critical minerals and reduce import dependence, while enabling the development of downstream industries linked to clean energy technologies, advanced manufacturing, and strategic sectors.

Roopwant Singh, IAS, managing director, GMDC, said, ?The collaboration with NMDC brings together complementary institutional strengths and technical expertise to explore opportunities in the rare earth sector. Through this initiative, GMDC aims to advance the development of a sustainable rare earth value chain while contributing to India?s critical mineral resilience and industrial progress.?

GMDC, India?s second-largest lignite producer and the leading merchant seller of lignite, is a state-owned enterprise with the Gujarat government holding a 74% stake. The company mines lignite from deposit-rich regions across the state and supplies it to high-growth industries such as textiles, chemicals, ceramics, bricks, and captive power. The scrip advanced 2.22% to Rs 543.70 on the BSE.

NMDC is engaged in exploration and production of iron ore along with diamond production and sale of sponge iron and generation and sale of wind power. The scrip shed 0.18% to Rs 77.42 on the BSE.

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Gujarat Mineral Development Corporation (GMDC), a Government of Gujarat enterprise and India's leading lignite producer, has received Environmental Clearance (EC) from the Ministry of Environment, Forest and Climate Change (MoEF&CC), Government of India for its Lakhpat-Punrajpur Lignite and Limestone Mine located in Kutch, Gujarat.

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The MoU sets out a collaborative framework to assess the feasibility of gasifying coal from GMDC?s coal blocks in Odisha and lignite from its mining operations in Gujarat.

As part of the agreement, GMDC will undertake pilot initiatives, including surface and underground coal and lignite gasification, to evaluate technical feasibility, operational parameters and scalability. NTPC, on the other hand, will assess potential end-use applications of syngas produced, including techno-commercial viability and market opportunities across relevant industrial sectors.

Subject to successful pilot outcomes, the two companies plan to evolve mutually agreed frameworks for joint production, marketing and commercialisation of syngas. They will also formulate a clearly defined, time-bound action plan to ensure systematic progress of the initiative.

GMDC said it has already initiated preliminary assessments for commercialisation of downstream products and is in the process of engaging technical partners for detailed feasibility studies. The MoU is expected to strengthen these efforts by leveraging NTPC?s expertise in large-scale energy systems and project execution.

Commenting on the development, Roopwant Singh, managing director (MD), GMDC, said the collaboration underscores the company?s commitment to innovation-led growth and optimal utilisation of mineral resources, while supporting national goals of energy security and industrial development.

GMDC, India?s second-largest lignite producer and the leading merchant seller of lignite, is a state-owned enterprise with the Gujarat government holding a 74% stake. The company mines lignite from deposit-rich regions across the state and supplies it to high-growth industries such as textiles, chemicals, ceramics, bricks, and captive power. The scrip fell 0.47% to Rs 573.50 on the BSE.

NTPC, along with its subsidiaries/associates & JVs, is primarily involved in the generation and sale of bulk power to state power utilities. Other business of the group includes providing consultancy, project management & supervision, energy trading, oil & gas exploration, and coal mining. The scrip rose 0.58% to Rs 384.05 on the BSE.

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Net profit of Gujarat Mineral Development Corporation declined 9.89% to Rs 133.06 crore in the quarter ended December 2025 as against Rs 147.66 crore during the previous quarter ended December 2024. Sales declined 11.37% to Rs 579.15 crore in the quarter ended December 2025 as against Rs 653.42 crore during the previous quarter ended December 2024.

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