Gujarat Mineral Development Corporation

Gujarat Mineral Development Corporation Limited

Type	Public BSE: 532181 NSE: GMDCLTD
Industry	Mining
Founded	1963
Headquarters	Ahmedabad, Gujarat , India
Area served	Gujarat
Key people	Manoj Kumar Das, IAS (Chairman) Arun Solanki, IAS (Managing director) Mona Khandar, IAS (Director) Sonal Mishra, IAS (Director)
Products	Lignite Bauxite Flourspar Manganese Silica Sand Limestone Bentonite Ball Clay
Revenue	₹1582 crore (US$ 246 million) (2017)
Operating income	₹445 crore (US$ 68 million) (2017)
Net income	₹324 crore (US$ 49 million) (2017)
Owner	Government of Gujarat
Number of employees	1567
Website	www.gmdcltd.com

Gujarat Mineral Development Corporation Limited (GMDC) is a major Indian state-owned minerals and lignite mining company based in Ahmedabad.^[1][2] GMDC was founded in 1963.

Its product range includes essential energy minerals like lignite, base metals and industrial minerals like bauxite and fluorspar.^[2] Gujarat government as given its green signal to GMDC to form a joint venture with NALCO for a 1 mtpa refinery.^[3]

GMDC also owns and runs Akrimota Thermal Power Station a 250 MW (2x125 MW) lignite-based thermal power plant located in village Nanichher in Lakhpat Taluka, Kutch District.

Product range[]

The company has grown in strength since its inception over the years. In 1963 the company commenced its operation with small silica sand quarry. In 1964 it started with bauxite mines in Kutch and now operates six bauxite mines. In 1971, a beneficiation plant was commissioned by GMDC to process 500 M.T of fluorspar ore and to produce calcium fluoride used for the manufacture of Hydro-fluoric acid and as flux in metallurgical industries. A captive mine at Ambadungar was established also to feed the plant. In 1976 lignite was discovered in Gujarat and GMDC started its first lignite mines at Panadhro. In 1980, a captive refining plant with copper mines was set up by GMDC near Ambaji. In 1983, another lignite mine was discovered & started by it at Rajpardi near Bharuch. In 1992, it established a calcination plant to add value to the bauxite mined by it at Gadhsisha in Kutch. In 1996, to use the lignite mined by it, GMDC also started thermal power plant at Nani-Chher in Kutch. In 2005 & 2009 more lignite mines were started by GMDC at Tadkeshwar near Surat and near Bhavnagar, respectively. Also in 2006 it developed manganese ore mines at Shivarajpur in Panchmahals.^[1] It is also setting up an Alumina plant with Raytheon Corporation of USA.^[2]

Public listing[]

In 1999, the government of Gujarat being the sole owner, divested 26% of its stake and the GMDC became a listed entity (BSE&NSE) and is occupying a position within the top fortune 500 companies in our country with an annual turnover surpassing 10 billion with considerable annual growth rate.^[1][4][5]

References[]