Gujarat Mineral Development Corporation Limited (GMDC) has formalized its strategic partnership with NTPC Limited through an official Memorandum of Understanding signed on February 26, 2026. The collaboration focuses on exploring advanced gasification technologies for coal and lignite resources, as announced through a regulatory filing under SEBI Regulation 30.

Strategic Gasification Initiative

The MoU establishes a comprehensive framework for joint exploration of gasification opportunities across GMDC's mineral resources. The initiative encompasses coal from GMDC's blocks in Odisha and lignite from its mining operations in Gujarat, targeting innovative approaches to resource utilization and value creation.

Four-Pillar Implementation Strategy

The collaboration operates through four key strategic pillars designed to ensure systematic progression. GMDC will undertake pilot projects for gasification, including both surface and underground approaches for coal and lignite, evaluating technical feasibility and operational parameters. NTPC will assess potential end-use applications of produced syngas, examining techno-commercial viability and market opportunities across industrial sectors.

Joint Commercialization Framework

Both organizations will work toward developing mutually agreed frameworks for joint production, marketing, and commercialization of syngas following successful pilot outcomes. The partnership includes formulation of a time-bound action plan to facilitate systematic initiative progression, with GMDC already initiating preliminary assessments of downstream product commercialization and marketing strategies.

Management Vision

Shri Roopwant Singh, IAS, Managing Director of GMDC, emphasized the collaboration's significance: "The collaboration with NTPC reflects GMDC's commitment to innovation-led growth and optimal utilisation of mineral resources. Exploring gasification technologies offers a greener pathway to creating greater value while supporting national objectives of energy security and industrial development."

About GMDC

Gujarat Mineral Development Corporation Limited operates five lignite mines across Kutch, South Gujarat, and the Bhavnagar region, supporting critical energy and industrial requirements. The corporation is recognized as the largest merchant seller of lignite in the country, maintaining a strong track record of responsible mining and resource development. GMDC trades on BSE under code 532181 and NSE under symbol GMDCLTD.

Gujarat Mineral Development Corporation Limited has received an ESG rating of 70 with Grade B from CFC Finlease Private Limited, reflecting Good performance on Environmental, Social and Governance parameters. The company made this disclosure to stock exchanges on February 24, 2026, in compliance with SEBI regulations.

ESG Rating Details

The rating assessment provides a comprehensive evaluation of the company's sustainability practices across multiple dimensions:

Independent Assessment Process

A significant aspect of this rating is that Gujarat Mineral Development Corporation did not engage CFC Finlease Private Limited for the evaluation. The rating agency conducted its assessment independently using publicly available information without any direct participation from the company. This approach demonstrates the agency's ability to evaluate corporate ESG performance through transparent, publicly accessible data sources.

The company received notification of this rating through an email intimation from BSE Limited on February 24, 2026, informing that CFC Finlease Private Limited had submitted the ESG rating disclosure.

Regulatory Compliance and Transparency

The disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates listed companies to inform stock exchanges about material events and developments that could impact investor decisions.

Key compliance aspects include:

• Timely disclosure to both NSE and BSE
• Publication of rating details on company website
• Provision of rating agency's website link for stakeholder reference
• Transparent communication about the independent nature of the assessment

Public Accessibility

To ensure transparency and stakeholder access, the rating information has been made available through multiple channels. The detailed rating can be accessed on CFC Finlease Private Limited's website at esgratings.co.in/esg-rating/, while the company has also published this information on its official website at www.gmdcltd.com .

This ESG rating of 70 with Grade B classification positions Gujarat Mineral Development Corporation in the Good category for Environmental, Social and Governance performance, providing investors and stakeholders with an independent assessment of the company's sustainability practices and corporate governance standards.