India’s NMDC to Increase Its Iron Ore Production Capacity to 100 MnT by 2030

NMDC on occasion of its Diamond Jubliee celebration on 8^th Dec’17 discussed its plans to increase its production capacity to 67 MnT by 2022. The company declared a profit (before tax) of INR 4,293 crores in FY’17, which stood 5% above the previous year and is emerging as one of the top profit making “Navratna”sector companies.

The company achieved production of 35.61 MnT iron ore in FY’17, with a turnover of Rs 8,830 crores depicting a growth of 37% as against CY’16.

NMDC is heading towards opening of new mines, besides increasing the production capacity of its existing mines to achieve its target of 67MnT per annum by 2022. It is also expected to touch the production capacity to 100 MnTp.a.by 2030, thereby enhancing efforts to achieve targets of National steel policy 2030-31.

Besides, increasing its production capacity the company is setting up 3 MnT p.a. green field steel plant at Nagamar in Chhattisgarh which is at advanced stage of construction.