India launches a $4B critical mineral mission and magnet incentive program, but China's 30-year industrial head start still defines the rare earth race.
Company Profile
Gujarat Mineral Development Corporation
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About Gujarat Mineral Development Corporation
Gujarat Mineral Development Corporation Limited (NSE:GMDCLTD, BSE) is an Indian state-owned minerals and lignite mining company founded in 1963 and headquartered in Ahmedabad, Gujarat, majority-owned by the Government of Gujarat and publicly listed since 1999. Historically India’s largest merchant seller of lignite, GMDC operates multiple lignite mines and power, bauxite, manganese and fluorspar interests, and is diversifying into critical minerals including copper and rare earth elements as part of India’s drive for supply-chain self-reliance. The company is advancing plans for a domestic Rare Earth Elements processing plant to support permanent magnets for electric vehicles, wind turbines and LEDs, and has partnered with the University of Cambridge to launch India’s first AI-powered Rare Earth Supply Chain Observatory. With a market capitalization of roughly US$2.3 billion in 2026, GMDC is positioned as a strategic public-sector vehicle for India’s critical-minerals ambitions.
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Recent Articles
India's GMDC and NMDC sign MoU for India rare earth supply chain development at Ambadungar, but processing capacity remains the critical challenge.
India's state-backed miners accelerate critical minerals strategy amid China's export curbs, with key players like GMDC, HCL, and MOIL exploring strategic oppo…
GMDC shares surge over 35% in September, hitting a 52-week high of ₹547 on BSE, driven by rare earth mining ambitions and clean energy potential.
GMDC shares surge 25% on rare earth sector buzz, driven by potential government policy and China's magnet export rebound, signaling renewed investor interest.
