Global recognition for CSR initiatives

India’s iron ore mining company, NMDC Limited, has bagged the prestigious S&P Global PLATTS Global Metals Award 2018 in corporate social responsibility (CSR) category.

This is the first time since inception of this award that an Indian company has bagged an award in this category.

NMDC was among the 12 shortlisted nominations of renowned companies from across the globe. The awards were held on 17 May 2018 in London.

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, it has a domestic market share of about 25% (non-captive category). It also extracts diamonds through its mine in Panna, which is the only mechanized diamond mine in Asia.

NMDC’s CSR engagement has grown over the years which gets reflected in the CSR expenditure which has increased from Rs.86 crore (US$13.25 million) in 2011-12 to an average of Rs.190 crore (US$30 million) during the last three years.

The company has been supporting initiatives on education, health, skill development, infrastructure creation and drinking water among others 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 involve a consultative process with various stakeholders, viz., District and State Administration, NGOs, people’s representatives and beneficiaries. fii-news.com