GMDC and NMDC Sign MoU to Explore Rare Earth Elements Collaboration in Gujarat

Gujarat Mineral Development Corporation (GMDC) and NMDC have signed a Memorandum of Understanding to explore collaboration in the Rare Earth Elements (REE) sector. The partnership will focus on developing an integrated rare earth value chain in Gujarat, particularly around GMDC's Ambadungar deposit, covering exploration, mining, processing, and downstream applications. The collaboration aims to leverage technical expertise, support project development, and enhance India's critical mineral capabilities. Following the announcement, shares of both companies saw gains on the stock market.