NMDC Bags the Prestigious S&P PLATTS Global Metals Award 2018 Under CSR Category

HYDERABAD, India, May 22, 2018 /PRNewswire/ --

NMDC Limited has bagged the prestigious S&P Global Platts Global Metals Award 2018 in corporate social responsibility category held on 17th May, 2018 at London Grosvenor Square Marriott Hotel, UK. Shri N. Baijendra Kumar, IAS, Chairman-cum-Managing Director and Shri Sandeep Tula, Director (Personnel), NMDC Limited received the coveted award. The shortlisted 12 nominations were of renowned companies across the world. This is the first time since inception of this awards, an Indian Company bagged an award in this category.

S&P Global Platts is the leading independent provider of information, benchmark prices and analytics for the energy and commodities markets. It has been in existence for over 100 years.

The S&P Global Platts Global Metals Award recognizes top performers - industry leaders and innovators. The Corporate Social Responsibility (CSR) Award recognizes the organization that best demonstrates leadership, commitment to action and real-world social impact on social responsibility of corporate business entity.

NMDC is the largest iron ore mining company in India. With iron ore production of around 35 million tonnes per annum (MTPA), it has a domestic market share of about 25% (non-captive category). NMDC also extracts diamonds through its mine in Panna, which is the only mechanized diamond mine in Asia.

CSR is raison detre of NMDC and not just a part of business strategy. Some of the outstanding features of the CSR programmes of NMDC are mentioned below:

• NMDC's CSR engagement has grown over the years which gets reflected in the CSR expenditure which has increased from Rs. 86 crore (13.25 million USD) in 2011-12 to an average of Rs. 190 crore (30 million USD) during the last three (03) years. The company has been supporting initiatives on Education, Health, Skill development, Infrastructure creation, drinking water etc. with a view to enhance the quality of life and empower the local population.
• NMDC has in place a unique model to design and implement CSR programmes which involves a consultative process with various stakeholders, viz., District and State Administration, NGOs, people's representatives and beneficiaries. NMDC's consultative approach has been lauded by Department of Public Enterprises, Government of India as worthy of emulation by other public sector enterprises.

Shri N. Baijendra Kumar congratulated all the employees of the company for winning this award and stated that it is the collective efforts and collaborative approach of all the employees which has made it possible. He thanked Ministry of Steel, Government of India for their continuous support and guidance and also appreciated the efforts of the committed employees of this vibrant organization who are taking the company to newer heights of excellence and said, "NMDC CSR initiatives adopt a flexible, inclusive, non-perspective, process-oriented approach to enable the stakeholders to determine the scope of our programs and activities. NMDC has shown that it is possible to be profitable, while being socially and environmentally responsible."

CSR Expenditure in last three years 

2017-18   -   Rs.170 crore ($26.15 million)

2016-17   -   Rs.174 crore ($26.77 million)

2015-16   -   Rs.210 crore ($32.32 million)

About NMDC:

NMDC Incorporated in 1958, is the largest Iron Ore mining company in India. With Iron-ore Production of 34 Million tones in FY’17, it has a market share of about 25% domestically (excluding captive iron ore production). Average grade of iron ore of NMDC sold in the  market Is ~64% Fe, which is one of the best globally.

NMDC continues to pursue policies and programmes to deliver long term value to all its stakeholders. NMDC has also invested substantially in the socio-economic development of the local communities, especially near its mining projects.

Ranked amongst India’s topmost companies in terms of its robust financials, NMDC’s eco-friendly, scientific and safe mining operations have earned recognition for it not just as one of the world’s lowest cost producer of iron ore, but also as the leader in its category.

Media Contact:
Hari Prasad Gogikar
[email protected]
+91-9618883774
Concept Public Relations India Limited