India: NMDC Iron Ore Production Falls to Four-Years Low in FY20

NMDC iron ore production for the fiscal FY’20 was reported at 31.88 MnT. Production has come down as compared to FY’19 at 32.36 MnT. Also, miner’s output has hit four years low as prior to this lower output was seen in FY16 at 28.32 MnT.

In FY20, NMDC C.G contributed major chunk of production contributing about 78% at 24.88 MnT (up 7% on Y-o-Y basis) and remaining 7 MnT produced by Karnataka mines, down 23% on yearly premises. Production volumes from Karnataka fell as operations from its Donimalai mines remained suspended.

NMDC iron ore output for the month of Mar’20 witnessed 15% drop to 2.76 MnT (2.6 from CG mines and 0.16 MnT from Karnataka mines), as compared to total output of 3.24 MnT in Feb’20.

NMDC iron ore sales down 3% Y-o-Y

NMDC’s total iron ore sales for the fiscal FY20 (Apr’19-Mar’20) recorded at 31.53 MnT as against 32.36 MnT in FY’19. Out of the total, 78% of total sales contributed by Chhattisgarh at 24.48 MnT (up 5% Y-o-Y) and remaining by Karnataka mines at 7.05 MnT (down 22% on yearly basis).

For the last month of the fiscal year FY’20, total sales recorded at 2.7 MnT in Mar’20(2.41 from Chhattisgarh and 0.29 MnT from Karnataka mines). The sales dropped 7% on monthly basis compared to 2.91 MnT in Feb’20

Source-: BSE filings, SteelMint Research
Qty in MnT