Gujarat Mineral Development Corporation Limited (GMDC) announced the approval of its unaudited financial results for the quarter ended June 30, 2026. The Board also approved the execution of two significant Memoranda of Understanding (MoU). The first is with Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) to explore opportunities in the coal-to-chemicals value chain, and the second is with IREL(India) Limited to evaluate collaborations in the Rare Earth Elements sector.
GMDC Board Approves Financials and Strategic MoUs
Gujarat Mineral Development Corporation Limited (GMDC) has announced that its Board of Directors, in a meeting held on July 31, 2026, has approved the unaudited financial results (standalone and consolidated) for the quarter ended June 30, 2026. The financial results, along with the limited review report from the statutory auditors, have been submitted to the stock exchanges.
Strategic Coal-to-Chemicals Collaboration
Further to the financial outcomes, the Board also gave its approval for the execution of a Memorandum of Understanding (MoU) with Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC). This collaboration aims to jointly evaluate opportunities across the coal-to-chemicals value chain, leveraging advanced gasification technologies, including Underground Coal Gasification (UCG). Detailed information regarding this MoU will be provided upon its formal execution.
Exploring Rare Earth Elements Opportunities
In addition to the coal-to-chemicals initiative, GMDC’s Board has also approved the proposal to enter into an MoU with M/s IREL(India) Limited. This partnership is set to explore collaboration opportunities within the Rare Earth Elements (REE) sector. Further details concerning this MoU will be shared in due course after its execution.
The Board meeting commenced at 11:00 AM and concluded at 1:10 PM on July 31, 2026. The company has also made these results available on its official website, www.gmdcltd.com.
Source: BSE
