NMDC capex plan: ₹6,000 cr FY27, 100 Mt by 2030

Roadmap signals a bigger NMDC beyond iron ore

NMDC has outlined an expansion and diversification plan that aims to lift iron ore capacity to 100 million tonnes per annum (mtpa) by 2030, while widening its footprint into coal and critical minerals. The company has indicated it will back this shift with higher capital expenditure and selective acquisitions outside India. In an earnings call, management said it “should be spending ₹2,000-3,000 crore on acquisition of assets abroad this year,” highlighting a more active approach to international mining opportunities. Alongside growth in iron ore, NMDC is positioning itself for materials linked to energy transition supply chains, including lithium and rare earth-related opportunities.

FY27 capex guidance moves to ₹6,000 crore

NMDC’s capex is expected to rise to ₹6,000 crore in FY27 from ₹3,300 crore in FY26, based on management guidance shared in the provided information. The company has also indicated a higher annual capex range of ₹7,000-10,000 crore for the following two to three years. This increase in spending is tied to new mining assets, evacuation infrastructure, and processing facilities, as NMDC tries to scale volumes and diversify product offerings. Separately, NMDC has also spoken about a capex plan of around ₹70,000 crore over five years to reach 100 mtpa by 2030, indicating that multiple investment frameworks are being discussed across disclosures.

Target: 60 million tonnes in FY27, 100 million tonnes by CY2030

Management reiterated an operational target of 60 million tonnes production in FY27 and 100 million tonnes by calendar year 2030. The company’s production trajectory mentioned in the input includes 45 million tonnes in FY24 and a target of 50 million tonnes in FY25. NMDC has also linked the scale-up to domestic demand from infrastructure and steel, and it has stated an intent to lift its domestic iron ore market share from 20% to 25% by 2030-31. The stated capacity goal is supported by expansion of existing mines and commissioning of additional deposits.

New mining assets: deposits and coal blocks in focus

NMDC is set to operationalize several new mining assets, with capacities mentioned as Deposit 4 (7 mtpa) and Deposit 13 (10 mtpa). On the coal side, the company has referenced Tokisud Coal (2.3 mtpa) and Rohne Coal (8 mtpa) as part of its coal expansion pipeline. In addition, NMDC has indicated it is diversifying beyond iron ore into captive coal extraction of up to 1 million tonnes per quarter. It also said it is scaling coal extraction to 1 million tonnes in Q2, as per the provided snapshot.

Tokisud North coal mine inaugurated in Jharkhand

NMDC marked the commencement of coal mining operations at the Tokisud North Coal Mine in Hazaribagh district, Jharkhand. The inauguration date cited is 23 January 2026, which the company described as its formal entry into coal mining. The event is positioned as a milestone in NMDC’s strategic expansion beyond iron ore and a step to strengthen its footprint in eastern India. The input also notes the company’s broader portfolio context, including iron ore mining, diamond mining, and overseas gold projects.

Branded iron ore push and Vizag blending yard investment

To build differentiated offerings, NMDC is investing ₹3,000 crore in a blending yard at Vizag for branded iron ore. The rationale presented is to capture new market segments and improve profitability, alongside the volume expansion plan. Branded iron ore and related infrastructure can also support more consistent product quality, which becomes increasingly relevant when volumes rise and customer requirements tighten. These moves sit alongside capacity additions and evacuation upgrades.

Slurry pipeline: 135 km evacuation project

NMDC is developing a 135 km slurry pipeline to transport iron ore fines more efficiently. The input also references capex allocations in FY25 towards the slurry pipeline from Bacheli to Nagarnar and Screening Plant III at Kirandul, together amounting to ₹1,200 crore, within a wider FY25 capex target range of ₹2,000-2,500 crore mentioned in an interview excerpt. These evacuation and processing projects are framed as critical to raising efficiency, improving supply chain capacity, and reducing bottlenecks as output scales.

Steel integration: 3 MTPA Nagarnar plant and profitability focus

NMDC has been building downstream presence through its 3 mtpa integrated steel plant at Nagarnar. The strategic intent described is value addition and vertical integration beyond mining. The input also states NMDC expects a turnaround in NMDC Steel’s profitability, though no specific timeline or numbers are provided. This steel focus is being presented alongside iron ore expansion, coal diversification, and critical minerals exploration.

Critical minerals and overseas acquisitions: subsidiary and deal pipeline

NMDC has set up a subsidiary to enter rare earth and other critical minerals markets, and is scouting for assets abroad. It is also pursuing overseas mining opportunities for critical minerals like lithium, cobalt, and nickel, including through Legacy India Iron Ore Limited, which is cited as including lithium mining operations in Australia. NMDC has said it is evaluating 20-25 mining proposals across multiple countries. As per the details attributed to the chairman and managing director, the proposals include “a couple of iron ore mines, a couple of coking coal mines, a few lithium mines, and one or two copper mines,” with most located in Africa, Australia, Indonesia, and Brazil.

Collaboration for lithium exploration in Australia

The input notes that NMDC will collaborate with Hancock Prospecting in Australia for lithium exploration, marking its entry into high-potential future resources. This comes as the company broadens its minerals portfolio alongside iron ore. While the provided text links this theme to India’s renewable and EV ambitions, the concrete disclosure is NMDC’s collaboration and exploration intent rather than production outcomes.

Key numbers at a glance

Market impact: what investors are watching

NMDC’s disclosures point to a multi-year investment cycle, with FY27 capex guided at ₹6,000 crore and a higher annual run-rate indicated for subsequent years. For investors, the key watchpoints in the provided information are the execution of new deposits, ramp-up of coal mining from Tokisud and other blocks, and progress on logistics projects like the slurry pipeline. The overseas push introduces another variable, with management explicitly indicating ₹2,000-3,000 crore of acquisition spending abroad in the current year and 20-25 proposals under evaluation across geographies. The company also guided for a 42-43% EBITDA margin, a data point that will be monitored alongside the higher capex intensity and diversification moves.

Why the strategy matters: scale, integration, and mineral diversification

The plan centers on lifting iron ore capacity to 100 mtpa by 2030, supported by expanded mining assets and processing and evacuation infrastructure. In parallel, NMDC is adding coal to its portfolio, including the operational start of Tokisud North in Jharkhand, and scaling captive extraction targets noted in the snapshot. The branded iron ore blending yard at Vizag and the 3 mtpa Nagarnar steel plant indicate a push toward value-added and downstream integration. The critical minerals and international scouting efforts reflect a second strategic leg, with lithium exploration collaboration in Australia and a pipeline of overseas proposals spanning iron ore, coking coal, lithium, and copper.

Conclusion: a capex-heavy phase with multiple moving parts

NMDC’s near-term roadmap features ₹6,000 crore capex guidance for FY27, a stated annual capex range of ₹7,000-10,000 crore thereafter, and an explicit intention to spend ₹2,000-3,000 crore on overseas acquisitions this year. Operationally, it is targeting 60 million tonnes in FY27 and 100 million tonnes by CY2030, supported by new deposits, coal blocks, and logistics infrastructure such as the 135 km slurry pipeline. The next set of milestones will be progress on commissioning and ramp-ups across listed mining assets, along with updates on overseas acquisitions and critical mineral exploration partnerships.