NMDC logs record output, sales in May

In the first two months of the fiscal, iron-ore production totalled 7.22 MT, an increase of 13.7%, while sales at 7.05 MT iron ore was 22% more, NMDC said.

State-owned miner NMDC reported iron-ore production increased 16% year-on-year to 3.71 million tonne in May, while sales at 3.62 MT was 37% higher.

Both production and sales were the best ever for May since inception and continued the all- time high performance registered in April. In the first two months of the fiscal, iron-ore production totalled 7.22 MT, an increase of 13.7%, while sales at 7.05 MT iron ore was 22% more, NMDC said.

“India’s iron-ore production has been predicted to grow by about 10% in FY24. As the largest contributor to this volume, NMDC has set the momentum right with record production and sales,” said Amitava Mukherjee, CMD (additional charge). NMDC is aiming to become a 100 MT per annum mining company by 2030.