NMDC expects to produce 50 million tonnes of iron ore in FY 24

25 Apr 2023 , 08:35 AM

According to a senior official who spoke to ET, state-owned miner NMDC expects to produce 50 million tonnes of iron ore this fiscal year. From the 41.22 million tonnes of iron ore produced by the company in fiscal 2022–2023, the aim implies growth of more than 21%.

According to news reports, NMDC wants to boost production to 60 million tonnes by FY27.

The March quarter saw NMDC produce 14.29 million tonnes, which was a quarter-high. With the exception of the September quarter, when production is likely to be disrupted by monsoon rains, the company anticipates consistent output for FY24.

NMDC operates iron ore mines in Karnataka and Chhattisgarh.

The largest iron ore producer in the nation is considering investigating lithium reserves in Australia at a mine in which it has a controlling interest. The largest iron ore producer in the nation is considering investigating lithium reserves in Australia at a mine in which it has a controlling interest.

‘We are nearing the end of exploration,’ Positive results have started coming in, according to production director DK Mohanty who talked to ET.

The mine is located in Australia’s Mt. Bevan, some 200 kilometers from Perth. 

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