NMDC

By: EconomyWatch   Date: 17 July 2010

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NMDC or National Mining Development Corporation is an Indian company operating in public sector. It is placed in 1134th position in 2008 Forbes Global 2000 list. It is completely owned by Government of India.
NMDC explores a number of minerals like iron ore, bentonite, copper, magnesite, rock phosphate, diamond, limestone, tin, dolomite, tungsten, gypsum and graphite. Since its inception NMDC has been a leading producer and exporter of iron ore.

National Mining Development Corporation has been at forefront to Indian mineral sector in last fifty years. It has a research and development center that has ISO 9001certification.

Brief history
NMDC was incorporated in 1958. In a short span of time, NMDC was able to carve a niche for itself in India's mining industry.

Products and services
NMDC is involved in research and development of various forms of ores. It conducts studies on these minerals across various regions in India. It has three operational mines. There are two complexes of Bailadaila iron ore mine at Bacheli and Kirandul. It has another mine at Panna.

It also has several divisions to execute its activities like Investigation Division, Engineering Division and Resource Planning Division. There is a Centre of Geostatistics and a Central Workshop. It also provides community and environmental management services as well.

Financials
In 2007, sales made by NMDC amounted to $0.97 billion. It earned profits worth 0.54 billion dollars. Its assets were worth $1.73 billion. Market value of NMDC was around $34.83 billion.

Awards and recognition
NMDC has been rated highly by MOU system of evaluation of performance of public enterprise formulated by Indian national government in financial years 2004-05, 2006-07, 2005-06 and 2007-08.

It has received Top Ranking Performance Award in financial years 2004-05, 2006-07 and 2005-06. It has received this award from Indian Institution of Industrial Engineering. It has received Sir M Visvesvaraya Industrial Award for Best Performance in Large & Medium Scale Sector – 2006. It has received this award from All India Manufacturers Organisation of AP State Board.

NMDC has been conferred with ICWAI National Award for Excellence in Cost Management 2006. It has received this award from ICWAI, New Delhi. It has received Coal India Productivity in financial years 2004-05 and 2005-06. It has received this award from Indian Institution of Industrial Engineering.



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