NMDC – India’s largest iron ore miner recorded significant decline in Apr’18 production. The production recorded at 2.41 MnT, down 42% M-o-M against 4.18 MnT in Mar’18. On yearly basis, the production depicted fall of 19% compared to Apr’17 production of 2.98 MnT.
Out of the total iron ore production of 2.41 MnT in Apr’18, 1.57 MnT (65% of total production) was contributed by NMDC Bailadila mines in Chhattisgarh, down 51% M-o-M compared to 3.21 MnT in Mar’18. The remaining 0.84 MnT iron ore was produced from NMDC’s Karnataka mines, down 13% compared to 0.97 MnT in Mar’18.
Miner’s iron ore production in Apr’18 has dropped to 8-months low. Prior to this in Aug’17, miner’s production was recorded at 2.25 MnT.
In FY’18, NMDC registered best ever production and sales at 35.5 MnT and at 36.4 MnT respectively. Rendering the miner to increase its iron ore production capacity plans to 50 MnT by 2019-20 to achieve the target of 67 MnT iron ore by 2022.
In a major development, NMDC has got approval to enhance its iron ore production limit to 14 MnT by CEC (Central Empowered Committee) from previously allotted 9.45 MnT in Karnataka.
NMDC iron ore sales in Karnataka fall sharply in Apr’18
NMDC witnessed decline in iron ore sales for the month of Apr’18 at 2.22 MnT, down 47% M-o-M as compared to 4.15 MnT in Mar’18. On yearly basis, iron ore sales witnessed 38% decrease as against Apr’17 sales at 3.56 MnT.
In Apr’18, iron ore sales from Chhattisgarh mines recorded at 1.91 MnT, accounting for 86% of total monthly sales. However, sales stood 30% down M-o-M, as against 2.72 MnT in Mar’18.
Sales from Karnataka marked at 0.31 MnT in Apr’18, depicting significant decline of 78% compared to 1.43 MnT in Mar’18. On yearly premises, NMDC’s Karnataka iron ore sales are also less by 78%.
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