NMDC’s Goal is to Build Resilient, Future-Ready Supply Chains, Says Amitava Mukherjee
Amitava Mukherjee, chairman and managing director, NMDC tells Himanshu Ojha about the Navratna company’s strategy to blend domestic ambition with a global perspective. Edited excerpts
Given India’s push for self-reliance in critical minerals, what role do you envision NMDC playing in the rare earths value chain?
India’s pursuit of self-reliance in critical minerals isn’t just a strategic imperative, it’s a defining opportunity to drive sustainable and inclusive growth. At NMDC, we see this moment as more than a transition, it’s a chance to shape the next chapter of Indian mining with purpose, resilience and innovation.
With a legacy of leadership in iron ore, we’re now expanding into critical minerals like lithium, cobalt and others that are essential for clean energy, electric mobility and advanced technologies. Our strategy blends domestic ambition with a global perspective, ramping up technology-led exploration at home while pursuing mineral assets in resource-rich geographies like Australia, Africa and South America. However, REEs [rare earth elements] specifically are not currently being pursued by NMDC.
The goal is clear: build resilient, future-ready supply chains and grow our international operations to contribute 5–10% of NMDC’s overall revenue in the coming years.
By combining our technical expertise with sustainability, innovation and national service, NMDC is committed to creating a mining ecosystem that reflects the aspirations of a self-reliant, future-facing India.
How can India overcome processing and refining bottlenecks in the rare earth supply chain? Can NMDC contribute?
India has promising resources of rare earths but turning that potential into reality means tackling some tough challenges mainly in processing and refining. The bottlenecks aren’t just about technology gaps but also about the need to scale up our domestic infrastructure and reduce reliance on imports. This will take clear policy direction, strong R&D backing and global collaborations.
We are considered to be one of the low-cost producers of iron ore in the world, building expertise in mineral processing over decades and we’re now bringing that experience to critical minerals although not specifically to REEs. Our R&D centre, situated in Patancheru, Hyderabad, is equipped to take on this challenge from mineral characterisation to hydrometallurgical refining.
We’re also partnering with institutions like IITs and CSIR [Council of Scientific and Industrial Research], and aligning ourselves with national and international efforts like the Minerals Security Partnership. The goal is simple: help build a fully integrated, home-grown rare earth supply chain for India.
We also have a new transformation and innovation vertical to introduce cutting-edge technologies, many of which will be first-of-their-kind in India’s mining sector.
What’s the status of NMDC’s overseas mining projects, especially in Australia and Africa?
We’re making meaningful strides globally, especially in Australia and Africa, as part of our strategy to diversify into high-value and critical minerals.
In Australia, our subsidiary Legacy Iron Ore is leading the way, gold mining has already commenced at Mt Celia and we’re conducting pre-feasibility studies for lithium in one of our tenements. We’ve also partnered in the Mt Bevan magnetite project, adding further depth to our portfolio in a key mining jurisdiction.
In parallel, in Africa, we’re actively exploring opportunities in lithium and other strategic minerals, which are crucial for the clean-energy transition. The success of coal production and export from the Benga Mine in Mozambique, through our joint venture ICVL [International Coal Ventures], marks another milestone.
We’re also in the early stages of assessments in South America and Southeast Asia.
Beyond Australia and Indonesia, are there any other geographies NMDC is evaluating for overseas mining or JVs?
While Australia and Southeast Asia remain strong pillars of our international presence, we’re actively expanding our global footprint. We’re in advanced stages of evaluating mineral assets in at least two African nations and are also exploring prospects in Latin America and the West Asia and North Africa regions.
This global push is firmly rooted in NMDC’s vision of international diversification and long-term mineral security. Our focus is sharp and strategic; we're centring efforts around 10 critical minerals, including lithium, copper, gold, cobalt, nickel, coking coal, iron ore, SMS-grade limestone, dolomite and bauxite each identified through a rigorous internal assessment of India’s future needs.
To support this expansion, we’re also planning to establish overseas offices in Dubai and eastern Australia, and set up a dedicated international subsidiary in GIFT City, Gujarat.
How do you view the recent reforms in India's mining sector?
The recent reforms in India’s mining sector mark a pivotal step towards transparency, efficiency and long-term growth. The shift to auction-based allocations and uniform 50-year lease terms has boosted investor confidence and brought much-needed clarity to the system.
At the same time, the expanded fiscal responsibilities including District Mineral Foundation, National Mineral Exploration Trust, auction premiums and additional levies have significantly altered project economics. While these ensure fair value from national resources, high-auction premiums, often exceeding 100%, have rendered many blocks commercially unviable, stalling production.
For PSUs like NMDC, provisions under Sections 17A and 8B are vital to ensure timely development, especially in Fifth Schedule areas where public sector mining can drive inclusive growth. Reforms should also focus on incentivising value addition, streamlining exploration and making critical mineral mining more competitive.