Besides production, sales of iron ore jumps by 20% in Chhattisgarh
Hyderabad, August 4
Mining giant National Mineral Development Corporation (NMDC) recorded a sharp rise in overall production and sales in July 2020 as compared to the corresponding period of the previous year.
India’s largest iron-ore producer and a diversified Navaratna PSU, registered the feat amidst uncertainties sparked off due to COVID-19. NMDC has been able to achieve excellent physical performance through its continual push towards higher volumes which saw production of 2.19 million tonne (MT) and sales 2.57 MT that grew by 13% and 7% over the corresponding period last year, respectively.
In July 2020, the Chhattisgarh Projects registered a production of 1.56 million tonnes as compared to the total production of 1.16 million tonnes in the corresponding month of July last year, an increase of 35% in production. NMDC also achieved record sales in July 2020 by selling 1.90 million tonnes of Iron ore in July 2020 against 1.60 million tonnes in July 2019, which is 20% higher than the previous year.
“The last few months have been quite challenging for the entire industry due to the COVID-19 pandemic situation impacting the performance of all major producers, Sumit Deb, Chairman-cum-Managing Director (CMD) of NMDC, said. However this challenge was treated as an opportunity to accelerate efforts towards stabilizing the production and continuously improving production processes, he said, adding going forward, NMDC will strive to maximize cost efficiencies to improve its bottom-line.
