India’s TOP 500 Companies 2021

INDIA’S TOP 500 COMPANIES 2021 168 Experts’ View Tell us about some of the key milestones of the company. What has been the company’s vision since its inception? GMDC was set up as a wholly owned government company in the year 1963, with the main objective to explore and mine the mineral wealth of Gujarat state. In the 1970, the company started its fluorspar project at Kadipani. And then in the 1980, the company moved to the Kutch District and later on to various parts of the State, to mine the lignite which is an alternative to coal. In the year 1997, the Government of Gujarat disinvested 26% of its equity through a public issue and the shares are listed on NSE and BSE. The company also diversified into lignite fed thermal power by setting up a 2 x 125 MW power plant in Kutch District. The company also further diversified into renewable energy and set up a one of its kind 5 MW Solar power plant on mined out reclaimed area at Panandhro Lignite Project in Kutch District. The company has also set up 200.9 MW of wind power at various coastal locations of Gujarat. What is the company’s growth strategy over the next 3 – 5 years? • GMDC’s next 3 – 5 years mining strategy is to explore new lignite blocks of Lakhpat – Punrajpur, Damlai, Panandhro Extension and Ghala. • GMDC plans to sell 70 Lakh MT to 90 lakh MT lignite per annum in next five years • GMDC is exploring the possibilities to get 7 to 8 new bauxite blocks reserved for GMDC • Proposed Joint Venture between GMDC & MOIL to conduct mining operations as well as to set up Value Addition Plant for Manganese ore available in Gujarat. • Proposed Joint Venture between GMDC & IREL for Extraction of Rare Earth Minerals in Ambadungar Area Tal: Kawant, Dist: Chhota Udepur, Gujarat • Long Term Supply Agreement of various primary and secondary minerals • Long-term Supply Agreement with Adani Cementation Limited (ACL), Shree Cement Limited (SCL) & Swan Construction for supply of Limestone from GMDC, Kutch. • Long term supply Agreement for supply of Bauxite, Silica Sand, Ball Clay& Bentonite. • Beneficiation of minerals like Bauxite, Silica Sand, Ball Clay and Bentonite. Addressing ESG risks has emerged as one of the key priorities for businesses in recent years. What steps has the company taken to enhance its ESG ratings? While addressing ESG risks, our main focus remains on identification of gap on ESG related issues and ESG risks, analysis, prioritization, making action plan for addressing identified gaps and risks, implementation and periodic review through company’s QEHS (Quality, Health, Environment and Safety) policy and ISO 14001 certification, Mining activities are designed and planned at minute level to achieve the goal of sustainable mining. Systematic land reclamation and massive plantation are given emphasis to reduce environmental footprints of the company. GUJARAT MINERAL DEVELOPMENT CORPORATION Roopwant Singh, IAS Managing Director Dun & Br dstreet