NMDC’s iron ore output rose 18% in February on flat sales
The Hindu
NMDC reports 18% increase in iron ore production, aiming for 100 MT capacity by 2030 with ₹70,000 crore investment.
State-owned iron ore miner NMDC reported an almost 18% increase in production to 4.62 million tonne (MT) for February from the 3.92 MT a year earlier. Sales was flat at 3.98 MT (3.99 MT).
It was the highest output thus far in February. The 18% boost is reflective of a strong operational momentum. “Consistent growth like this is an outcome of an efficient mining ecosystem driven by an innovative and ingenious spirit... our team is relentless in its pursuit of crossing new milestones in FY25,” CMD (additional charge) Amitava Mukherjee said.
The upcoming financial year is lined up with determined expansion and new opportunities, he said in a release on Saturday. NMDC has committed to build a 100 MT iron ore mining capacity by 2030 and towards this announced a ₹70,000 crore capital expenditure plan recently.
For the 11 months ended February, production of the key raw material for steel by India’s largest iron ore miner was a tad higher at 40.49 MT (40.24 MT), while sales was lower at 40.20 MT (40.48 MT).
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