Mineral Trading Corporation

What Mineral Trading Corporation does

MMTC Limited (publicly referred to as 'Mineral Trading Corporation') is a Government of India-owned Schedule 'A' Central Public Sector Enterprise (CPSE) under the Ministry of Commerce and Industry, established in 1978. It self-describes as India's largest international trading company and operates as a diversified B2B commodity trading house spanning eight product verticals: agro products, coal and hydrocarbons, fertilizers and chemicals, metals and industrial raw materials, minerals, precious metals/gems/jewellery (with gold imports discontinued in 2022 per Department of Commerce directives), PMD retail, and projects and general trade. Revenue is generated through transaction-fee-based international trading (import-export) on bulk commodities sold wholesale to industrial and commercial buyers and the agro sector.

The company runs a transaction-fee revenue model with quote-based, per-negotiation pricing on bulk commodity contracts. Its go-to-market is enterprise field sales executed through a network of ten regional/corporate offices across India (headquartered at Scope Complex, Lodhi Road, New Delhi) plus a wholly-owned Singapore subsidiary (MMTC Transnational PTE Limited). Underlying technology is not disclosed in the available source data — the company operates primarily through institutional and government channels, including annual MoU performance frameworks with the Ministry and a basic social-media presence on Facebook, Twitter, and Instagram. Core technology differentiation is not articulated.

Customer-facing commercial relationships are anchored by a portfolio of joint ventures and subsidiaries that lock in downstream offtake and upstream logistics: Neelachal Ispat Nigam Limited (steel/specialty metals), MMTC-PAMP India Private Limited (precious metals), Free Trade Warehousing Private Limited, Sical Iron Ore Terminal Limited, Indian Commodity Exchange Limited, and MMTC Transnational PTE Limited (Singapore). The leadership consists of government-appointed Executive Directors (CMD Nitin Kumar Yadav; Director Marketing Jatinderjit Singh Mann; Director Finance Kundan Kumar Mishra) and independent/government nominee directors on the board. Recent events show board turnover across all three functional directorates (Marketing, Finance, Personnel selections opened between May 2025 and June 2026) and an active financial-irregularities investigation at the Singapore subsidiary through 2024-2025.

Name

Mineral Trading Corporation

Legal name

MMTC Limited

Website

https://mmtclimited.gov.in

Company type

Public

Founded year

1978

Operating status

Operating

Headcount range

1–10 employees

Short description

MMTC Limited is India's largest government-owned international trading CPSE, founded in 1978 under the Ministry of Commerce and Industry, importing and exporting bulk commodities — minerals, metals, precious metals, agro products, fertilizers, coal, and hydrocarbons — to industrial and commercial buyers via domestic regional offices and a Singapore subsidiary.

Ownership category

akta.pro rank

Headquarters

HQ city

New Delhi

HQ country

India

HQ region

Asia

Offices11 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. International Trading: MMTC Limited generates revenue through import and export of various commodities including minerals, metals, precious metals, gems and jewellery, agro products, fertilizers, coal and hydrocarbons. The company operates as India's largest international trading house handling bulk commodity transactions.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

MMTC Limited is a government-owned Central Public Sector Enterprise (CPSE) and India's largest international trading company, engaged in import and export of bulk commodities including minerals, metals, precious metals, agro products, fertilizers, and coal and hydrocarbons. The company operates as a wholesale B2B commodity trading house structured around eight product segments, serving industrial and commercial buyers across India and the Asia-Pacific region.

Product overview

MMTC Limited (Mineral Trading Corporation) is India's largest international trading company operating as a diversified commodity trading house. The company operates a multi-category trading platform spanning eight major product segments: Agro Products, Coal and Hydrocarbons, Fertilizers and Chemicals, Metals and Industrial Raw Materials, Minerals, PMD Retail, Precious Metals/Gems/Jewellery, and Projects and General Trade. As a government-owned Central Public Sector Enterprise (CPSE) under the Ministry of Commerce and Industry, MMTC facilitates both import and export of commodities, functioning as a bulk-trading specialist in the international trade arena.

Differentiator

Problem solved

Functional benefit

Products and services

• Agro Products
• Coal and Hydrocarbons
• Fertilizers and Chemicals
• Metals and Industrial Raw Materials
• Minerals
• PMD Retail
• Precious Metals, Gems and Jewellery Trading in precious metals (gold, silver), gems, and jewellery products. Note: Gold import has been discontinued as per Commerce Department directives effective 2022.
• Projects and General Trade

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered joint venture, minor (exit exercised), minor and subsidiary.

• Neelachal Ispat Nigam Limitedjoint ventureStrategic or Co-development PartnerJoint venture company in which MMTC holds stake, operating in the steel/specialty metals sector.
• Free Trade Warehousing Private Limitedjoint ventureStrategic or Co-development PartnerJoint venture focused on free trade warehousing operations to support MMTC's trading logistics.
• MMTC-PAMP India Private Limitedjoint ventureStrategic or Co-development PartnerJoint venture for precious metals trading and processing operations in India.
• Sical Iron Ore Terminal Limitedjoint ventureStrategic or Co-development PartnerJoint venture terminal operator for iron ore handling and logistics.
• MMTC-Gitanjali Limitedminor (exit exercised)Strategic or Co-development PartnerFormer joint venture for precious metals/jewellery; exit option has been exercised.
• Indian Commodity Exchange LimitedminorOthersCommodity exchange entity in which MMTC holds interest for trading purposes.
• MMTC Transnational PTE LimitedsubsidiaryStrategic or Co-development PartnerWholly-owned subsidiary based in Singapore serving as MMTC's international trading arm in the Asia-Pacific region.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Trafigura India: Indian operations of global commodity trader Trafigura, active in metals, minerals, and energy trading. Comparable as a private-sector competitor in international commodity trading with similar metals/minerals and coal exposure.
• PEC Limited: Another Indian government-owned CPSE under the Ministry of Commerce, focused on international trading of fertilizers, agro-chemicals, and industrial raw materials. Comparable as a state-owned commodity trading house with overlapping fertilizer and agro trading segments and parallel CPSE governance model.
• Vitol (India operations): World's largest independent energy and metals commodity trader with active India presence in crude, refined products, and metals. Comparable as a global commodity trading house competing for Indian import demand with similar bulk commodity trading focus.
• State Trading Corporation of India (STC): Indian government-owned trading CPSE under the Ministry of Commerce and Industry, engaged in international import-export of bulk commodities including fertilizers, metals, agro products, and hydrocarbons. Directly comparable as another state-led commodity trading house with parallel MoU-driven governance and similar product overlap to MMTC.
• Glencore (India operations): Global commodity trading and mining major with active India presence across metals, minerals, coal, and agricultural commodities. Comparable as a competitor in the same international commodity trading category with similar product breadth.
• Cargill India: Indian arm of global commodity giant Cargill, trading in grains, oilseeds, metals, and agricultural commodities. Comparable as a major competitor in B2B international commodity trading targeting similar industrial and commercial buyers in India.

Broad incumbents

• Indian Oil Corporation: Indian government-owned oil and gas major with significant hydrocarbon trading operations and crude/petroleum product imports. Comparable as another large CPSE with parallel government backing, hydrocarbon commodity exposure, and B2B industrial customer base.
• Reliance Industries (commodity trading): Largest Indian private sector company with diversified commodity exposure including petrochemicals, refining, and metals. Comparable as a major Indian counterpart with broad commodity and trading exposure, though commodity trading is a fraction of its overall portfolio.

Emerging players

• Adani Enterprises (trading and mining): Indian conglomerate with significant commodity trading, mining, and resource trading operations including coal, iron ore, and metals. Comparable as a major Indian-headquartered competitor scaling rapidly in commodity trading with growing international presence.

Regional players

• National Aluminium Company (NALCO): Indian government-owned CPSE engaged in aluminium production and metals trading/export. Comparable as a fellow Indian metals CPSE with overlapping minerals/metals trading scope, though NALCO's primary activity is upstream production rather than pure trading.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/mmtc_ltd
• Facebookfacebook.com/MMTC.LTD
• Instagraminstagram.com/mmtc_ltd
• LinkedInlinkedin.com/company/mineral-trading-corporation

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mineral Trading Corporation