Team News Riveting
Raipur, September 1
Monsoon season did not dither the spirit of National Mineral Development Corporation (NMDC) to continue on the strong growth trajectory as the company registered a whopping 89 per cent rise in the production in the month of August compared to last year’s corresponding period.
Country largest iron ore miner produced 3.06 million tonne (MT) in August 2021 compared to 1.62 MT recorded during the previous year’s corresponding period. The company sustained the production level compared to July even as the monsoon advanced.
The sales of steel making raw material also surged nearly 63 per cent at 2.91 MT compared to previous year’s 1.79 MT.
The company’s output has been constantly showing an upward trend in the current fiscal with strong first quarter (Q1) results. Besides production and sales, Chairman-cum-Managing Director Sumit Deb had been focussing on a major expansion plan in the company across the verticals. It had been yielding the desired results.
The cumulative production and sales till August 2021 were 15.02 MT and 15.67 MT respectively. As compared to previous year, the production and sales had increased by 44 per cent and 45 per cent respectively over the corresponding period of last fiscal.
Congratulating the NMDC team for surpassing expectations yet again, Deb said, “Our performance in the first five months of current fiscal is very encouraging. This also puts us in a strong position to pursue our plans for this fiscal with greater confidence. Appreciate the efforts of each and every employee for remaining focused in achieving our targets for FY22.”
In the Q1, NMDC had surpassed its previous best for any Q1 since inception.
Of the total output, Chhattisgarh projects contributed 2.14 MT while the Karnataka complex produced 0.92 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.
