Indian mining powerhouses - NMDC Limited and GMDC Limited signed a Memorandum of Understanding to explore collaborations in Rare Earth Elements and associated minerals on Monday.

Guidance for this strength-based partnership is to develop an integrated and sustainable critical mineral supply chain for India. This partnership paves the way for exploration of rare earth deposits in the country, along with the expansion of R&D capabilities and carbon conscious initiatives in this sub-sector.

The two companies signed the Understanding in the presence of Shri Amitava Mukherjee, CMD, NMDC and Shri Roopwant Singh, IAS, Managing Director, GMDC accompanied by Senior Officers from both sides at the NMDC Headquarters in Hyderabad. Effective from March 16, 2026 for a period of two years, the MOU recommends the formation of a Steering Committee and Working Group to evaluate and enrich the proposed collaboration.

This tie-up is expected to bolster the development of rare earth mining and downstream operations nationwide.

Speaking on this move, Amitava Mukherjee said, “India’s interest in Rare Earth Elements is now a strategic national priority. These minerals sit at the heart of energy security, defence capability, and the push for a truly self-reliant Bharat. Mining companies have been called upon to rise to the occasion. NMDC with GMDC is determined to build a resilient critical mineral supply chain for the country as soon as possible.”

NMDC and GMDC, with their respective momentum in critical mineral mission and rare earth corridor, are also looking at the possibilities of a Joint Venture, Special Purpose Vehicle and strategic business collaborations going forward.