Team News Riveting
Mumbai, March 1
The largest iron ore producer of India, National Mineral Development Corporation Ltd. (NMDC) produced 4.31 million tonnes (MT) and sold 3.97 MT of iron ore in the month of February, 2022.
The mining major under the Ministry of Steel registered a growth of 11.66 per cent in production and 22.15 per cent in sales over corresponding period of last year (CPLY). Cumulative production and sales figures for the first 11 months of financial year 2021-22 (FY22), up to February 2022, stood at 37.18 MT and 36.57 MT respectively.
These figures registered the best ever 11 months physical performance of NMDC. The company achieved a growth of 25.95 per cent in production and 25.45 per cent in sales over the same period last year.
The company is aiming to produce about 47-50 MT of iron ore during the next financial year as against the expected 45 MT in the current fiscal.
NMDC has a 2.5-million-ton up gradation in the plants in Bacheli that is going to come up. It is likely to be commissioned around mid-next financial year. The company has applied for EC (environment clearance) for 10 MT at Kumarswami.
NMDC expects about 50 to 50 MT plus output by the financial year 2023-24.
