Team News Riveting
Hyderabad, October 8
The peak monsoon season coupled with the uncertainty following the pandemic failed to affect the performance of the National Mineral Development Corporation (NMDC) in the second quarter of the fiscal.
Country’s largest iron ore producer and exporter recorded an output of 5.63 million tonne (MT) in the quarter ended September 2020 as against 5.29 MT produced in the corresponding period of last year— a growth of 6.5 per cent. Similarly, sales were 6.50 MT against 5.83 MT in CPLY, registering a growth of 11.5 per cent.
“Since June 2020, the company is on a growth trajectory and will definitely keep improving in the months to come,” Sumit Deb, Chairman-cum-Managing Director (CMD) of NMDC, said. Though 2020 has been a challenging year, NMDC is consistently putting its best efforts to meet the demand of the domestic steel industry, he added.
The Navratna Company, even during the month of September 2020, has continued its steady growth both in production and sales over CPLY.
Iron ore production for the month of September 2020 was 1.83 MT, registering a growth of 11 per cent against 1.64 MT clocked in September 2019. The sale of steel making raw material registered a growth of 10.50 per cent at 2.11 MT in the month of September 2020 against previous year’s 1.91 MT.
The Bailadila Projects at Chhattisgarh has produced 1.32 MT in September 2020 as compared to last year’s 1.05 MT, registering a growth of 26 per cent. The total sales of iron ore from Bailadila projects in the month stood at 1.62 MT against 1.34 MT in September 2019, up by 21 per cent.
