NMDC logs record output, sales in FY’18

Published - April 12, 2018 05:32 pm IST - New Delhi

 File photo: NMDC iron ore mine.

File photo: NMDC iron ore mine.

The country’s largest iron ore miner National Mineral Development Corporation (NMDC) said on Thursday that it has clocked record production and sales for 2017-18 at 35.50 MT and 36.1 MT, respectively.

The production rose 4.40% from 34 million tonne (MT) in 2016-17. The sales grew 1.40% to 36.1 MT from 35.6 MT in the previous fiscal. “Since the company’s inception this is the highest sales and production,” a company official said.

While in Chhattisgarh, the company produced 23.50 MT of iron ore in 2017-18, the production in Karnataka was 12 MT. Iron ore is the main ingredient used in the manufacture of steel.

Incorporated in 1958 as a fully government-owned public enterprise, NMDC is under the administrative control of Ministry of Steel.

It is involved in the exploration of a wide range of minerals including iron ore, copper, rock phosphate, lime stone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, beach sands etc.

Recently, the company entered a pact with Indian Rare Earths Limited (IREL) to explore opportunities in rare earth elements in the country and abroad.

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