NMDC gains after inking MoU with Colorado School of Mines for mining research

NMDC advanced 1.39% to Rs 82.53 after the company has signed a Memorandum of Understanding (MoU) with the Colorado School of Mines, USA to establish a framework for research collaboration in mining, mineral processing, metallurgy and AI/ML in mining.

The agreement primarily outlines the collaborative research, implementation mechanisms, Intellectual property sharing, duration, arbitration, termination and confidentiality provisions.

Further, no special rights are agreed between the parties like, right to appoint directors , preferential rights to subscribe to shares in the event of a capital issuance, or rights related to changes in capital structure.

The Colorado School of Mines is not related to NMDCs promoter, promoter group, or group companies and the MoU does not constitute a related party transaction.

 

NMDC is engaged in exploration and production of iron ore along with diamond production and sale of sponge iron and generation and sale of wind power.

The companys consolidated net profit jumped 40.2% to Rs 1,698.86 crore on a 29.7% rise in revenue from operations to Rs 6,378.11 crore in Q2 FY26 over Q2 FY25.

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