The company has grown in strength since its inception over the years. In 1963 the company commenced its operation with small silica sand quarry. In 1964 it started with bauxite mines in Kutch and now operates six bauxite mines. In 1971, a beneficiation plant was commissioned by GMDC to process 500 M.T of fluorspar ore and to produce calcium fluoride used for the manufacture of Hydro-fluoric acid and as flux in metallurgical industries. A captive mine at Ambadungar was established also to feed the plant. In 1976 lignite was discovered in Gujarat and GMDC started its first lignite mines at Panadhro. In 1980, a captive refining plant with copper mines was set up by GMDC near Ambaji. In 1983, another lignite mine was discovered & started by it at Rajpardi near Bharuch. In 1992, it established a calcination plant to add value to the bauxite mined by it at Gadhsisha in Kutch. In 1996, to use the lignite mined by it, GMDC also started thermal power plant at Nani-Chher in Kutch. In 2005 & 2009 more lignite mines were started by GMDC at Tadkeshwar near Surat and near Bhavnagar, respectively. Also in 2006 it developed manganese ore mines at Shivarajpur in Panchmahals.^[1] It is also setting up an Alumina plant with Raytheon Corporation of USA.^[2]

In 1999, the government of Gujarat being the sole owner, divested 26% of its stake and the GMDC became a listed entity (BSE&NSE) and is occupying a position within the top fortune 500 companies in our country with an annual turnover surpassing 10 billion with considerable annual growth rate.^[1][4][5]

GMDC is keen to set up a Rare Earth Elements Processing Plant, in the country as REEs are essential for developing green energy technologies like permanent magnets for electric vehicles and wind turbines and LEDs.^[6]