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India’s largest state-owned iron ore miner, NMDC, is pushing ahead on two fronts: finding fresh mineral assets overseas and making its pellet production greener at home. 

A New Base in Sydney 

NMDC opened an office in Sydney on 26 October 2026, inaugurated by Steel Secretary Sandeep Poundrik. It will help the company work with Australian government bodies and industry partners to find investment chances in minerals. This follows NMDC’s plan to search for limestone, dolomite, coking coal and tungsten assets in the UAE, Oman, Bhutan and Australia. 

NMDC meets roughly 25% of India’s iron ore demand, yet it aims to earn a minimum of 20% of revenue from other minerals. Coking coal is especially important, since India depends heavily on imports for its steelmaking. 

Cleaner Fuel for Pellets 

On 19th October 2026, NMDC signed a long-term gas sales agreement with GAIL Gas for regasified LNG (RLNG) for its pellet plant at Nagarnar, near Jagdalpur in Chhattisgarh. GAIL Gas will lay the pipeline connection and set up a gas receiving and metering station. By replacing furnace oil with gas, the plant should cut emissions and gain in efficiency, pellet quality and long-run cost. 

NMDC commissioned its 2 million tonne per year pellet unit at Nagarnar in late September 2026 as part of a ₹5,427 crore (about $566 million) project that includes an ore processing plant at Bacheli and a 135 km, 15 million tonne per year slurry pipeline. Also, NMDC targets 100 million tonnes of iron ore capacity, in the long run. 

What Lies Ahead 

These moves reduce NMDC’s reliance on iron ore alone. Reliable gas also matters. In July 2026, Godawari Power & Ispat temporarily suspended its 2 million tonne pellet plant in Raipur from 14 July, after GAIL cut contracted gas supplies and gas prices rose. This shows how fuel supply risk can hit output. 

Market Outlook: 

• New overseas deals could emerge within 12–24 months, but mines take years to deliver. 

• Nagarnar pellet output should climb gradually as gas supply begins. 

• Gas prices will determine how much cost saving NMDC actually captures. 

Overall, market sentiment looks positive, as NMDC strengthens supply security while improving its green credentials. Buyers should watch upcoming overseas announcements and Nagarnar’s pellet output numbers.