State-owned NMDC iron ore output grows 20% 10.70 MT in April-June

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State-owned NMDC reported a 20 percent growth in iron ore production to 10.70 million tons in the first quarter of FY24.

NMDC produced 8.92 metric tons of iron ore during the April-June period of fiscal year ’23, the company said in a regulatory filing.

Sales rose to 11.15 metric tons from 7.66 metric tons in the same period last year, registering a 45 percent increase.

“NMDC’s contribution to the country’s economy continues to make tremendous progress in meeting the increase in demand for iron ore. Our record of highest production and sales in the first quarter of the year and June since inception is consistent with our agile and relentless investment in mine planning, expansion and optimization,” said its CEO Amitava. Mukherjee, Effective Human Assets.

Hyderabad-based NMDC (formerly National Mineral Development Corporation) under the Ministry of Steel contributes more than 17-20 percent of the total iron ore production in India.

(Only the title and image for this report may have been reworked by the Business Standard staff; the rest of the content is generated automatically from a shared feed.)

First published: Jul 01 2023 | 9:48 p.m ist