Team News Riveting
Raipur, August 2
National Mineral Development Corporation (NMDC) continued on its strong growth trajectory and registered a considerable jump in both production and sales in July.
The production surged a whopping 39.7 per cent to 3.06 million tonne (MT) in July 2021 compared to 2.19 MT recorded during previous year’s corresponding period, sales of the country’s largest iron ore producer and exporter went up by nearly 28 per cent. NMDC’s sales surged to 3.29 MT in June 2021 compared to previous year’s 2.57 MT.
The company’s output has been constantly showing an upward trend in the current fiscal with strong first quarter (Q1) results with Chairman-cum-Managing Director Sumit Deb focussing on a major expansion plan in the company across the verticals that had been yielding the desired output.
The cumulative production and sales till July 2021 were 11.96 MT and 12.87 MT respectively. As compared to previous year, the production and sales had increased by 35.9 per cent and 43.3 per cent respectively over the corresponding period of last fiscal.
In the Q1, NMDC had surpassed its previous best for any Q1 since inception.
Of the total output, Chhattisgarh projects contributed 2.08 MT while the Karnataka complex produced 0.98 MT of iron ore.
NMDC is India’s single largest iron ore producer, presently producing about 35 MT of iron ore from 3 fully mechanized mines, two located in Chhattisgarh and one in Karnataka.
