Iron Ore
NMDC's iron ore production jumps 23 pc in FY 22
New Delhi: National Mineral Development Corporation Ltd (NMDC), country's largest iron ore producer, on Saturday reported cumulative production and sales for FY 22 at 42.15 MT and 40.70 MT respectively, a growth of 23 percent in production and 22 percent in sales over the same period last year.
Cumulative production and sales for Q4 of FY22 stood at 13.84 MT and 12.34 MT respectively, a growth of 12 per cent in production and 12 per cent in sales over the same period last year, a statement from the company said.
NMDC reported iron ore production of 4.98 MT and sale of 4.21 MT for the month of March 2022. With a growth of 9 per cent in production and 3 per cent in sales over the corresponding period last year, the mining major achieved the highest production and sales numbers for any March month in company history.
NMDC CMD Sumit Deb said, “NMDC has achieved a record-breaking physical performance for FY22 on the back of a propelling expansion and investment strategy, we are entering the new fiscal with a valuable head start. Our digitalisation drive is beginning to contribute to our improved performance and we are excited to see this transformation in how we do business and share the benefits with our stakeholders.''
''As the Government of India seeks to ramp up the domestic per capita steel consumption in our country, NMDC will take on an enhanced role to strengthen raw material supply and give impetus to self-reliance in the sector,” he said.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
