Gujarat Mineral Development Corporation Share price

Gujarat Mineral Development Corporation Ltd. was established by theGovernment of Gujarat in the year 1963 with the aim of developingimportant and major mineral resources of the State. Over the years theCompany has developed several mining centres based on continuous miningsystems and beneficiation plants with the latest technologies. Theproduct range of the Company includes energy minerals like Lignitebasic commodities like Base Metals and industrial minerals likeBauxite Fluorspar Granite and Marble.The Corporation commenced its activities with two projects i.e. thesilica sand crushing plant at Surajdeval in Saurashtra and thefluorspar project at Kadipani in Baroda district. Since 1968 theCorporation has been the major source of regular supply of importantminerals like fluorspar to core sector industries like steelaluminium refrigerants foundries etc. Bauxite operations inSaurashtra and Kutch were started in the early 70s with theestablishment of the Bauxite Calcination Plant.The growth of the Corporation essentially took off with thecommencement of the Lignite Project in Panandhro in Kutch in 1974 andthe opening of the second mine at Rajpardi in Bharuch district in theearly 80s. Lignite production has grown by 17% per annum over the last10 years which fact has been reflected in the financials of theCorporation.