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NMDC shatters record with 45 MT iron ore output

2 Apr 2024 , 01:47 PM

The largest producer of iron ore in India, NMDC, announced a record output of 45.1 million tonnes and sales of 44.48 million tonnes for the fiscal year that concluded on March 31, 2024.

According to the state-owned miner, it has achieved its best-ever annual physical performance, surpassing 45 MT, making it the first mining business in the nation. Its output and sales are 10% and 16% greater, respectively than in the previous fiscal year, when it recorded 40.82 MT of iron ore production and 38.22 MT of sales.

Barring March when both output at 4.86 MT (5.60 MT) and sales at 3.96 (4.84 MT) were lower and in February when the output slipped to 3.92 (4.48 MT), NMDC posted better monthly production and sales throughout the remainder of the year.

“The NMDC legacy has been genuinely honoured and enhanced by Crossing 45 MT.” CMD (extra charge) Amitava Mukherjee stated on Monday, “We have negotiated the industry’s rigours, strengthened our financial resilience, and expanded upon our technical and digital competence.

He stated that NMDC’s compass pointed north for the future, emphasising innovation, sustainability, a common goal, and a 100 MT robust future. On the BSE, the company’s shares closed 5.4% higher at ₹212.60 apiece on Monday.

The company’s principal iron ore mines, Kirandul and Bacheli in Chhattisgarh and Donimalai in Karnataka, produced the most during the fiscal year that concluded on Sunday. After the removal of production obstacles, the company produced 2.65 lakh tonnes of pellets at its peak, according to the company.

The business announced that it has restarted mining operations at its diamond mining project in Panna, Madhya Pradesh during FY24 after receiving the required approvals from the Supreme Court and the Union Ministry of Environment, Forest, and Climate Change (MoEFCC).

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • India
  • iron ore
  • NMDC
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