Team News Riveting
Mumbai, April 1
National Mineral Development Corporation (NMDC) had registered a growth of 8 per cent in the production of steel making raw material in the financial year 2020-21 amidst battling bad weather and COVID-19 induced economic slowdown.
In the BSE filing today, the country’s largest iron-ore producer and exporter informed that it produced 34.11 million tonne (MT) of iron ore in the financial year 2020-21 as against previous year’s output of 31.49 MT recorded during the corresponding period. The production is up by about 8 per cent that adds significance.
Following COVID-19 pandemic, a major part of the fiscal witnessed lockdown that severely hampered the steel production. Even inclement weather that inundated mines following incessant rains also affected the production. Amidst adversities, NMDC performance in the FY21 had been outstanding.
The company’s sales also went up by about 6 per cent. As against last fiscal’s 31.51 MT, NMDC sold 33.27 MT of iron ore in the financial year 2020-21.
Of the output, Chhattisgarh mines had produced 26.56 MT while the Karnataka projects shared 7.55 MT. Of the three mechanized mines that the Navratra company owned, two are located in Bailadila of Chhattisgarh’s Dantewada district.
