NMDC produces 3.95 MT iron ore in Dec, sales at 3.40 MT; Stock rallies over 1%

5 Jan 2022 , 10:31 AM

State-owned NMDC produced 3.95 MT and sold 3.40 MT of iron ore in December 2021. The largest iron ore producer of India registered marginal growth in production over CPLY and delivered the highest ever production in any December month since inception.

CMD, NMDC Sumit Deb said, “I’d like to congratulate the team for continuing to deliver solid results at the start of an exciting year. In 2022 with the completion of several of our projects you will see NMDC transition into a very different company with stronger fundamentals and exciting, cutting edge mining technologies.”

On a cumulative basis, the company’s production and sales figures for the first nine months of FY22 up to December 2021, stood at 28.32 MT and 28.36 MT respectively, recording the best 9 months physical performance of NMDC. The company achieved a growth of 30% in production and 27% in sales over the same period last year.

At around 10.29 am, NMDC was trading at Rs137.25 per piece up by 1.07% on Sensex. The stock was near the day’s high of Rs137.40 per piece.