FCC

NMDC's April-Feb iron ore output up 13%, sales surge 21%

2024-03-06

The state-owned miner NMDC had recorded a nearly 13 per cent increase in iron ore production, reaching 40.24 million tonnes during the April-February period of the 2023-24 fiscal year. According to an exchange filing by the steel PSU, the cumulative production for the same period last year was 35.62 MT.

Nevertheless, the company revealed a 12 per cent decline in production for February, amounting to 3.92 MT compared to 4.48 MT in the corresponding month of the previous year.

The cumulative sales for April-February in this fiscal year totalled 40.48 MT, reflecting a 21 per cent increase from the 33.42 MT recorded in the last financial year.

In February alone, sales rose to 3.99 MT from 3.78 MT in February 2023, marking an approximately 6 per cent increase.

NMDC, operating under the Ministry of Steel, stands as the nation's largest iron ore mining company, catering to about 20 per cent of the country's demand for the crucial raw material used in steel production.