Saturday, October 10, 2015

NMDC - Introduction

NMDC is GoI fully owned public enterprise under the administrative control of the Ministery of Steel, GoI. It was incorporated in 1958 and conferred the Navaratna status in 2008.

NMDC is India's largest iron ore producer with the present capacity of 10 million tonnes of iron ore from three fully mechanized mines. It mines wide range of minerals including iron ore, copper, rock phosphate, lime stone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, beach sands etc.

NMDC's iron ore mines are located in Chhattisgarh and Karnataka states.

Production projects of NMDC
1. Bailadila Deposit-14/11C
2. Bailadila Deposit-5 10/11A
3. Donimalai Iron Ore Mines

Brief History:
  1. Incorporated on November 15, 1958 under the Companies Act as National  Mineral Development Corporation Private Limited
   2. Became a deemed public limited company with effect from March 13, 1975 
   3. Acquired the Panna Diamond Project in 1966 
   4. Commenced production of iron ore from Bailadila Deposit No.14. in 1968
   5. Commenced production of iron ore from Bailadila Deposit No.5 and Donimalai Iron Ore Mine in 1977
   6. Commenced production of iron ore from Bailadila Deposit No.11C. in 1987
   7. Equity Shares were split from Rs. 1000 per share to Rs. 10 per share in 1992
   8. Disinvested 2,130,000 Equity Shares on 1993
   9. Conferred the Miniratna status in 1998
   10. Commenced  production of iron ore from Bailadila Deposit No.10/11A in 2002
   11. Equity Shares were split from Rs. 10 per share to Re. 1 per share in 2008
   12. Conferred the Navratna status in 2008

For a detailed history, please refer Money Control - NMDC history.

Subsidiary/associate/joint venture companies:

Company achievement (past 5 years)
For more details on company financials click here.

NDMC has good track record of consistently makingprofit and paying dividend. It makes the company a promising candidate for long-term investment

More to follow...

    No comments:

    Post a Comment