In 1963, a small canalising agency, The Minerals and Metals Trading Corporation was created under the Ministry of Commerce for export and import of Minerals and Metals. Today, with turnover of over US$ 1.2 billion, it is one of the first companies in India to be awarded the coveted status of the ‘Golden super Star Trading House’ for long standing contribution to exports. In a span of nearly four decades, MMTC Limited has emerged as a pre-eminent dynamic corporate entity, leading at the helm of India’s International trade with bulk handling as our core competency.

Operations
The operations of MMTC cover a wide portfolio of bulk products and are divided under following major divisions: Minerals and Ores, Non-ferrous Metals, fertiliser and fertiliser Raw Materials, Precious Metals, Gems and Jewellery, Agro Products, Coal and Hydrocarbons etc. These divisions contribute substantially to the turnover and gross trading profits of MMTC. Other than these, the company also carries out general trading operations in Drugs and Chemicals, Engineering Products, Building Materials, etc. All its trading activities are effectively carried out through various mechanisms like Counter Trade, Barter Trade, Joint Venture and Third Country Trade.

Core Strengths
Minerals : MMTC is a major global player in the Minerals trade and the single largest exporter of Minerals from India, exporting a wide range and variety of Minerals and Ores. With its well developed infrastructural facilities and network, MMTC handles about one third of India’s total exports of Minerals. While MMTC’s traditional markets for Iron Ore exports are Japan and South Korea, the company has made aggressive inroads for Minerals exports into markets like China, Pakistan and the Middle East. MMTC also exports Mica and Mica Products and has an established manufacturing facility for value added products.

Metals : Non-Ferrous Metals imports has been a key area of MMTC’s import operations. MMTC is India’s largest seller of imported Non-ferrous Metals, viz Copper, Aluminium, Zinc, Lead, Tin, Nickel Magnesium, Antimony, Silicon and Mercury, as also Industrial Raw Materials like Asbestos, Steel and its products. MMTC offers LME indexed prices for Non-ferrous Metals both for delivery and ' off the shelf' as well as per the customer’s requirements and needs. MMTC sources its metals from empanelled suppliers including producers and traders throughout the world. MMTC imports quality products conforming to international specifications like ASTM or BSS or LME approved brands.
With the liberalisation in policies in India enabling hedging operations by Indian companies at overseas exchanges, MMTC which is already hedging in Nickel is fully geared up to position itself as a key player in hedging operations in India.

Fertilisers and Fertilisers Raw Materials:
The Company is amongst the world’s second largest institutional buyer of Fertilisers and Fertiliser Raw Materials, importing in bulk for supply to Indian Fertiliser majors. MMTC is amongst India's largest importers of Urea, DAP, MOP, Sulphur, Rock Phosphate, SSP, Phosphoric Acid, Ammonium Sulphate, etc. The company also markets Fertilisers in India under its own brand.

Precious Metals, Gems and Jewellery:
As India’s largest importer of Precious Metals like Gold and Silver, MMTC handles about 60 tonnes of Gold and 500 tonnes of silver annually making it the single largest Bullion trader in Indian Sub continent. It also exports Gold and Studded Jewellery through exclusive Jewellery Exhibitions abroad. MMTC operates a Jewellery showroom at Mumbai and an exclusive Duty Free Jewellery store at the International Air port, Mumbai. The company supplies hallmarked Gold and Studded Jewellery as per international standards and has an inhouse Assaying and Hallmarking unit at New Delhi for testing the purity of Gold and Gold Ornaments.
MMTC received BIS certification for its Assaying and Hallmarking unit at Jhandewalan jewellery Complex, New Delhi and its Domestic Jewellery showroom at Mumbai. MMTC has also a plant in New Delhi for manufacturing of its own brands of gold and silver medallions. Customised requirements for corporate/institutional orders are being executed all throughout the year. It has also recently launched its brand of Sterling Silverware 'SANCHl' in the domestic market. To diversify into value-added operations, MMTC is planning to enter into the big league of duty-free operations in India by launching five more duty free shops at three international airports in the current fiscal year at Chennai, Mumbai and Thiruvananthapuram. The new duty-free jewellery outlets of MMTC are expected to give major fillip to export of jewellery.

Agro Products:
Amongst the leading Indian exporters and importers of Agro Products, MMTC’s basket of agro commodities include Rice, Wheat, Wheatflour, Soya meal, Pulses, Sugar, Fresh Fruits and Processed Foods. MMTC also undertakes extensive operations in Oilseed Extractions, from the procurement of seeds to the production of De-oiled cake for exports as well as the production of Edible Oil for domestic consumption. As a major trader of edible oil, MMTC sells imported crude Palm Oil to Vanaspati manufacturers/dealers and RBD Palmolein to traders in India.

Coal and Hydrocarbons:
With increasing energy requirements and production in the country, MMTC is poised to establish itself as a major player in the Coal and Hydrocarbon Sector and aggressively expand its customer base in India. MMTC is importing coal into India and using its wide infrastructural facilities at the ports to supply coal to power utility systems and State Electricity Boards and various other users like cement plants, etc. MMTC also plans to import coking coal and metallurgical coke to cater to the needs of the steel sector in India. Exclusive tie-up withKonark Met Coke Limited (KMCL) to source their coal requirements will provide fresh business avenues for import of coal. MMTC has also joined hands with oil majors in India for parallel marketing of SKO, paving yet another avenue for growth potential in this area.

A Vast Network
The company’s domestic network comprises 85 regional, sub-regional, port and field offices, warehouses and distribution outlets, ably supported by strategically located offices abroad. MMTC’s international trade network spans over 80 countries in Asia, Europe, Africa, Oceania and America giving MMTC a global market presence.
Subsidiary Company : MMTC Transnational Pte Limited,Singapore, initially set up as a liason office, became a fully owned subsidiary company of MMTC in 1994. Since then it has been trading with neighbouring countries such as China, Indonesia, Vietnam, Philippines etc. both for sourcing supplies for third countries and export outside India. It is diversifying into metallurgical coke, coal, minerals, agro items, machinery etc. and is all set to qualify for the prestigious AIT (Approved International Trader) status.

Diversification for Value Addition :
The major thrust of MMTC has been on value addition of its various activities. To this end, MMTC is setting up a 1.1 million tonnes steel plant as with a 55 MW captive power plant in konark met coke td. (KMCL) in Orissa. MMTC will be undertaking responsibility of marketing the plants products like, pig Iron, steel wire rods, steel billets through its wide network in the Indian and overseas markets and also source raw material for the plant. Both the projects have been progressing well with the Blast Furnace getting ready for producing Pig Iron by early 2001. A sizable increase in MMTC’s turnover is expected to be added from import and export operations of both the projects.
MMTC is the sole and exclusive agent for procurement of all raw materials and services for NINL and KMCL as also the sole and exclusive agent for marketing and sale of all its products in India and abroad.

Conclusion
As MMTC pursues new and expanded activities, it will be its endeavour to develop business by promoting large scale projects and demonstrate its comprehensive capabilities as the best business partner in this subcontinent and provide high quality service to its customers combined with professionalism and efficiency.