Gujarat Mineral Development Corporation Limited — Updates, 29-01-2025: Press Release

GMDC Ltd. has entered into a Long-Term Supply Agreement with JK Cement Ltd. to supply 250 million tons of limestone over 40 years from the Lakhpat Punrajpur Mine in Kutch. This strategic partnership aims to support JK Cement in establishing a large-scale cement plant, promoting industrial growth in the region and generating significant employment opportunities. The agreement leverages Kutch’s favorable location and logistics for cement production. It will also enhance revenue for the State through royalties, National Mineral Exploration Trust contributions, and Goods & Services Tax from limestone and cement production. This initiative reflects GMDC’s commitment to sustainable resource utilization while bolstering Gujarat’s industrial landscape. Investors should note the potential for positive long-term growth and economic benefits from this collaboration.