NMDC Full Form- National Mineral Development Corporation
Updated on 22 February, 2024
upGrad Abroad Team
upGrad abroad Editorial Team
)What is NMDC? The full form of NMDC is National Mineral Development Corporation.
The Indian public sector company NMDC Limited, formerly known as the National Mineral Development Corporation, is engaged in the exploration of various minerals such as coal, diamond, tin, tungsten, limestone, dolomite, gypsum, magnesite, copper, iron ore, and rock phosphate.
With three automated mines in Chhattisgarh and Karnataka producing over 35 million tonnes of iron ore annually, it is the largest producer and exporter of iron ore in India. Additionally, it runs the nation's sole mechanised diamond mine, located near Panna, Madhya Pradesh. Low silica limestone is one of the various raw materials that NMDC Ltd. offers to the steel industry.
Through its subsidiary J K Mineral Development Corporation Limited, the production of dead charred magnesite and additional value addition are being investigated.
Vision, Mission and Objectives of NMDC
Vision: To become a leading worldwide mining organisation that respects the environment and produces high-quality steel with an emphasis on social development.
Mission: To continue being the biggest producer of iron ore in India, to build a reputation for producing high-quality steel, and to grow its company by acquiring and managing a variety of iron ore, coal, and other mineral assets both domestically and internationally, all the while providing the highest level of satisfaction to all of its stakeholders.
Micro Objectives:
- to increase the size of the mining and mineral processing operations in order to satisfy the rising demands from both home and foreign markets.
- Reach global benchmarks in cost-effectiveness, value creation, and productivity per person.
- to reach a production capacity of 67 MTPA for iron ore by the year 2025.
- Steel plant establishment at Nagarnar.
Macro Objectives:
- Encourage the discovery and extraction of iron ore and other vital and crucial minerals.
- to continue protecting the environment.
- to use scientific mining techniques to preserve mineral resources.
- to keep up a high standard of client satisfaction.
- to enhance the socioeconomic environment in and around the mines, as well as people's quality of life in general.