NMDC readies ₹70,000 cr projects, GIFT City unit

Three to four global assets are in the final stages of evaluation by NMDC, including iron ore and lithium mines

- Rituraj Baruah & Subhash Narayan

NMDC Ltd plans to spend ₹70,000 crore in the next three years to expand domestic operations, install slurry pipelines and explore 10 minerals including lithium, gold and coking coal abroad, a top executive said.

The state-run miner also plans to set up a subsidiary at Gujarat's GIFT City, which will anchor its overseas businesses.

NMDC, which primarily mines iron ore, will also explore minerals such as lithium, cobalt, manganese, bauxite, nickel, copper and gold in its international ventures, chairman and managing director (CMD) Amitava Mukherjee said in an interview. The focus will be largely on Africa, Australia, Southeast Asia and South America.