Gujarat Mineral Development Corporation Limited has announced the resignation of Ms. Arti Kanwar, IAS, from her position as Non-Executive Director on the company's Board of Directors. The resignation became effective on December 29, 2025, following an administrative transfer ordered by the Government of Gujarat.

Resignation Details

The company disclosed the resignation in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The key details of the resignation are outlined below:

Regulatory Compliance

The announcement was made pursuant to Regulation 30 read with Para A of Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided all required details as mandated by SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Transfer Notification

Ms. Arti Kanwar's resignation stems from her transfer effected by the Government of Gujarat through Notification No. AIS/35.2025/56/G dated December 23, 2025, issued by the General Administration Department. As an IAS officer, her board position was subject to administrative postings and transfers as determined by the state government.

Material Reasons Confirmation

The company has confirmed that Ms. Arti Kanwar has provided written confirmation stating that there are no other material reasons for her resignation apart from the administrative transfer mentioned above. This confirmation is required under SEBI regulations to ensure transparency regarding director resignations.

The resignation represents a routine administrative change resulting from government transfer policies for IAS officers serving on corporate boards of state enterprises.

Gujarat Mineral Development Corporation (GMDC) has achieved a major milestone in operationalizing its Baitarni-West coal mine in Odisha by securing a mining partner and obtaining key regulatory clearances. The company announced that it has awarded operational responsibilities for the mine to a mining partner at its corporate office in Ahmedabad, marking a significant step toward planned production.

Strategic Coal Sector Expansion

The development represents GMDC's calibrated expansion into the coal sector, building a strategic parallel to its established leadership in lignite operations. As part of this diversification strategy, the company has acquired three coal blocks in Odisha, with Baitarni-West emerging as the most value-accretive asset due to its scale and geological potential.

Regulatory Clearances Secured

GMDC has obtained crucial statutory approvals that enable structured advancement of the project. The company has secured Stage-I Forest Clearance (FC) and Environmental Clearance (EC) for the Baitarni-West Opencast Coal Mine from the Ministry of Environment, Forest and Climate Change (MoEFCC), Government of India.

These clearances mark significant regulatory progress and provide the foundation for mine operationalization in line with statutory timelines and responsible mining practices.

Management Commentary

Sh. Roopwant Singh, IAS, MD-GMDC, commented on the achievement: "Advancing Baitarni-West coal mine to this stage within 2.5 years highlights GMDC's focus on efficient project development and sustainable value creation. Our progress reflects a disciplined approach to building high-quality mining assets that support regional development and enhance the Corporation's long-term growth trajectory."

Strategic Vision and Portfolio Diversification

Anchored in the vision of Atmanirbhar Bharat, the 15 MTPA Baitarni-West coal mine is positioned to strengthen India's energy ecosystem. The award of work to a mining partner reflects GMDC's intent for phased development while strengthening visibility on sustainable coal business operations.

This approach supports GMDC's broader objective of building a balanced, diversified, and future-ready mining portfolio that complements its lignite operations and enhances long-term value for stakeholders. The company remains focused on disciplined execution, operational alignment, and future-oriented growth as it expands its fuel portfolio.