SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

GMDC signs Long-Term Supply agreement with City Gold Pipes

07 May 2025 Evaluate

Gujarat Mineral Development Corporation (GMDC) has signed a Long-Term Supply agreement (LSA) with City Gold Pipes (A consortium of Goldcrest Cement and Kailash Darshan Housing Development (Gujarat)) for the supply of 150 million tons of limestone over a period of 40 years from its upcoming Lakhpat Punrajpur Mine in Lakhpat Taluka of Kutch District in Gujarat.

This agreement marks a strategic partnership towards monetizing the large limestone asset of GMDC and benefiting both the partners. It will support City Gold Pipes in setting up a greenfield integrated mega-capacity cement plant, fostering industrial growth in the region. The collaboration will stimulate investment, enhance industrial development, and generate thousands of direct and indirect employment opportunities in Kutch, contributing significantly to the socio-economic progress of Gujarat. Kutch’s coastal proximity, improved access to domestic and international markets, and cost-efficient logistics position it as an ideal hub for cement production. Furthermore, this initiative will contribute substantially to the State Exchequer through revenue generation in the form of Royalty, National Mineral Exploration Trust (NMET) contributions, District Mineral Foundation (DMF) funds, and Goods & ServicesTax (GST) on both limestone and cement production.

This agreement underscores GMDC’s commitment to fostering industrial growth while ensuring the sustainable utilization of mineral resources, thereby strengthening Gujarat’s position as a leading industrial and economic State.

Gujarat Mineral Development Corporation is engaged in business of mining and mineral processing.

GMDC Share Price

669.60 -13.10 (-1.92%)
24-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Coal India 455.85
NMDC 89.22
GMDC 669.60
Sandur Manganese 209.25
MOIL 319.20
View more..

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×