Gujarat Mineral Development Corporation Limited has informed the Exchange regarding a press release dated March 16, 2026, titled "GMDC Signs MoU with NMDC Limited to Explore StrategicCollaboration in the Rare Earth Elements (REE) Sector".
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GMDC, a Gujarat government-owned mining PSU, has signed a Memorandum of Understanding with NMDC Limited, a central government Navratna PSU, to explore collaboration in the Rare Earth Elements (REE) sector. The partnership will assess development of an integrated rare earth value chain in Gujarat, covering exploration, mining, processing, and downstream applications, with primary focus on GMDC's Ambadungar Rare Earth deposit. Both companies will evaluate technical collaboration, project development, and potential business structures, while sharing knowledge and technical expertise. The move aligns with India's national priority of reducing import dependence in critical minerals and supports clean energy and advanced manufacturing sectors.
Positive signal for shareholders — the MoU positions GMDC in the strategically important rare earth sector with a strong central PSU partner, potentially unlocking long-term value from its Ambadungar deposit. However, this is only an exploratory agreement at this stage, with no committed investment or revenue impact yet.