NMDC has signed a Memorandum of Understanding (MoU) with Indian Rare Earths (IREL) on April 02, 2018. Through this MoU, NMDC and IREL together propose to explore opportunities in rare earths in India and abroad and also in setting up downstream value chain for RE products.
NMDC is a state-controlled mineral producer of the Government of India. It is fully owned by the Government of India and is under administrative control of the Ministry of Steel.