NMDC Limited has announced a key leadership appointment with the induction of Shri Anurag Kapil as Director (Finance) on the company's Board of Directors. The appointment comes through an official order from the Ministry of Steel, Government of India, marking a significant development in the company's executive leadership structure.

Appointment Details

The Ministry of Steel has issued Order No. S-14013/1/2024-BLA dated March 18, 2026, formally appointing Shri Anurag Kapil to the position of Director (Finance) at NMDC Limited. The appointment terms and background details are outlined below:

Regulatory Compliance

NMDC Limited has fulfilled its disclosure obligations under Regulation 30 of the Securities & Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has formally communicated this appointment to all relevant stock exchanges where its shares are listed.

The notification was sent to BSE Limited (Scrip Code – 526371), National Stock Exchange of India Limited (Scrip Code – NMDC), and The Calcutta Stock Exchange Limited (Scrip Code – 24131) through their respective electronic platforms.

Professional Background

Shri Anurag Kapil brings significant experience from the Indian Railway Accounts Service (IRAS) to his new role. He currently serves as Executive Director, Finance Expenditure at the Railway Board, providing him with extensive expertise in financial management and expenditure oversight in large public sector organizations.

Terms of Appointment

The appointment is structured for a five-year term from the date Shri Kapil assumes charge of his new position. However, the tenure is subject to modification based on further orders from the appointing authority, whichever condition occurs earlier. This standard provision ensures flexibility in executive appointments while providing reasonable tenure security.

The appointment reflects the government's continued focus on strengthening the leadership team at NMDC Limited, one of India's leading mining companies. Company Secretary & Compliance Officer Pravin Shekhar has formally communicated this development to ensure transparency and regulatory compliance.

NMDC Limited has entered into a strategic partnership with Gujarat Mineral Development Corporation Limited (GMDC) through a non-binding Memorandum of Understanding executed on 16.03.2026. The collaboration focuses on Rare Earth Elements (REE) and associated minerals, marking a significant step towards strengthening India's critical mineral supply chain.

Partnership Details

The MoU brings together two major government enterprises to explore opportunities in the rare earth sector. NMDC Limited, a Government of India enterprise, has partnered with GMDC, a Government of Gujarat enterprise, to leverage their combined expertise and resources in mineral development.

Strategic Objectives

The collaboration aims to strengthen cooperation towards securing India's critical mineral supply chain through comprehensive development of rare earth resources. The partnership focuses on creating an integrated approach to rare earth element development across multiple stages of the value chain.

Integrated Value Chain Development

The MoU encompasses the development of an integrated rare earth value chain in India covering several key areas:

• Exploration: Identifying and assessing rare earth mineral deposits
• Mining: Extraction of rare earth elements and associated minerals
• Processing: Converting raw materials into usable forms
• Separation: Isolating individual rare earth elements
• Downstream Manufacturing: Producing end-use products and applications

Regulatory Compliance

NMDC Limited disclosed this partnership under Regulation 30 of the Securities & Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement was made to BSE Limited, National Stock Exchange of India Limited, and The Calcutta Stock Exchange Limited on 16.03.2026.

Market Significance

This collaboration represents a strategic move to enhance India's self-reliance in critical minerals, particularly rare earth elements which are essential for various high-technology applications. The partnership between two established government enterprises provides a strong foundation for developing domestic capabilities in this strategically important sector.