India: NMDC Iron Ore Production Down 5% in Feb’18

NMDC – India’s largest iron ore miner recorded marginal decline in iron ore production in Feb’18 by 5% to 3.45 MnT as against 3.64 MnT in Jan’18. On yearly basis, the iron ore production from NMDC in Feb’18 recorded a slight increase of 7% as against 3.23 MnT in Feb’17.

Out of the total iron ore production of 3.45 MnT in Feb’18, 2.45 MnT ( 71% of total production) was contributed by NMDC Bailadila mines in Chhattisgarh, down 9% M-o-M compared to 2.68 MnT in Jan’18. The remaining 1 MnT iron ore was produced from NMDC’s Karnataka mines, up 4% M-o-M, compared to 0.96 MnT in Jan’18.

In first eleven months of FY’18 (i.e during Apr’17-Feb’18), NMDC’s iron ore production has been recorded at 31.32 MnT, up 3% against 30.33 MnT in the same time frame last fiscal.

The total production from Chhattisgarh mines for FY’18 (Apr’17- Feb’18) recorded at 20.29 MnT, down 5% against 19.41 MnT same period last fiscal. The production from Karnataka mines for first eleven months FY’18 recorded at 11.03 MnT, almost stable against 10.92 MnT same period FY’17.

In FY17, NMDC produced 34 MnT iron ore, up by 19% Y-o-Y.

NMDC iron ore sales declined to 3.03 MnT in Feb’18-

NMDC witnessed decline in sales of iron ore in Feb’18 to 3.03 MnT, down 7% as compared to 3.25 MnT in Jan’18. On yearly basis, iron ore sales recorded increase of 6% in Feb’18 as against Feb’17 at 2.86 MnT.

In Feb’18, iron ore sales from Chhattisgarh mines were recorded at 2.06 MnT, down 13% M-o-M as against 2.36 MnT in Jan’18. Sales from Karnataka stood at 0.97 MnT, up 9% compared to 0.89 MnT in Jan’18. NMDC, Chhattisgarh contributed about 70% of total NMDC’s sales in Feb’18.

So far in FY18 (Apr’17-Feb’18) NMDC’s iron ore sales have been recorded at 31.92 MnT, almost stable as compared to sales in same time frame last fiscal (Apr’16-Feb’17) at 32.33 MnT.

The total sales from Chhattisgarh mines for first eleven months of FY’18 was recorded at 20.44 MnT, down 2% against 20.81 MnT during same period last fiscal. The sales from Karnataka stood at 11.48 MnT, as compared to 11.52 MnT same period FY’17.