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Systematix Research Report
Gujarat Mineral Development Corporation Ltd. is India's largest merchant lignite miner. Its five operating lignite mines (with reserves of more than 500 million tonne) supply largely to local industries in Gujarat, while the company absorbs about 7% for captive consumption.
Unlike Coal India Ltd., GMDC revises prices monthly, and provides full exposure to global coal price movements.
The company is also engaged in bauxite mining and power generation. It has 250 megawatt of thermal power generation capacity in Kutch, Gujarat, and 201 megawatt of wind power and five megawatt of solar power generation capacities around Gujarat.
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