Team News Riveting
Raipur, September 1
State-run National Mineral Development Corporation (NMDC) reported a surge of over 37 per cent in the production and 25 per cent in the sales of iron ore in the month of August 2023 compared to previous year’s corresponding period.
The cumulative production and sales of the miner in the first five months of the fiscal year also increased over 23 per cent and 29 per cent respectively compared to the same period of the last financial year.
The company informed in a regulatory filing today that it had produced 3.41 million tonnes (MT) of iron ore in the month of August 2023, which is up by 37.5 per cent compared to previous year. During the corresponding period in the last fiscal, NMDC Limited had produced 2.48 MT.
The sales surged to 3.54 MT compared to previous year’s 2.83 MT, recording a growth of 25.09 per cent.
Eyeing to achieve a 50 MT target in the financial year 2023-34, NMDC’s performance in the current fiscal is on a growth trajectory. The company produced 16.56 MT of iron ore during April-August period, which is 23.12 per cent higher compared to previous year’s 23.12 per cent.
The cumulative sales in the first five months of the NMDC, which reported best ever first quarter (of the current fiscal ended June 30, 2023) performance since the inception of the company, surged by 29.69 per cent to 17.43 MT. During the corresponding period of last financial year, NMDC has produced 13.44 MT of iron ore.
“These are our best-ever August and cumulative results, a testament to our relentless pursuit of 50 MnT production this fiscal,” commented Amitava Mukherjee, CMD (Additional Charge).
Congratulating his team for this record breaking performance, the CMD said, “NMDC plays a pivotal role in fostering self-reliance in the country by supplying high volumes and high-grade iron ore consistently. This performance speaks of our aspirations to transform into a global, sustainable, technology-driven company with enhanced production capacity, committed to set new benchmarks in the industry.”
