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The Economic Times
The Economic Times
Business

Diversification plan: NMDC scouts for mining assets across four continents

NMDC Mining India iron ore Renewable Energy Rare Earths

From South America in the west to Australia in the east, state-owned iron ore giant NMDC is scouting mining assets, including critical minerals, in four continents to meet the future needs of industries such as automotive, renewable energy, electronics, and steel, according to industry sources.

NMDC, which caters to India's one-fourth iron ore demand, has set a goal to earn at least 20 per cent of revenues from sale of minerals other than the key steel making raw material.

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