- National Mineral Development Corporation (NMDC), a Navratna Public Sector Enterprise under the Ministry of Steel is the single largest producer of iron ore in India.
- It was incorporated in 1958 as a Government of India public enterprise.
- Since inception, the corporation has been involved in the exploration of a wide range of minerals including copper, rock phosphate, limestone, magnesite, diamond, tungsten and beach sands amongst others in some of the most remote corners of the country.
- NMDC has its own R&D Centre at Hyderabad which is recognized as a Centre of Excellence by United Nations Industrial Development Organization (UNIDO).
Why in News?
- The National Mineral Development Corporation (NMDC) is paving the way towards becoming a 100 Million Tonnes (MT) mining company. The Ministry of Steel said the Corporation has reported record-breaking production for the period up to the last month, and delivered record performances in Fiscal Year 2023-2024 so far.
- The company produced 13.15 million tonnes and sold 14.18 million tonnes of iron ore till the last month, showing a year-on-year growth of 20 per cent and 33.5 percent in production and sales respectively.