India’s single largest iron ore producer, National Mineral Development Corporation (NMDC) anticipated to ramp up its iron ore production and sales by 24% and 21% Y-o-Y respectively in this fiscal.
The miner aims to produce 35 MnT (up by 24% Y-o-Y) in FY17 against 28.32 MnT in FY16. And expects to increase its iron ore sales by 21% Y-o-Y to 35 MnT in FY17 compared to 28.87 MnT in last fiscal.
“NMDC intends to increase its iron ore mining capacity to 50 MT per annum (MTPA) by 2018 and envisages to produce and sell 35 MT iron ore during FY17,” said Smt. Bharathi S. Sihag (CMD, NMDC).
NMDC raised its iron ore production by 29% Y-o-Y in Q1 FY17
Iron ore production of NMDC moved up by 29% Y-o-Y and was recorded at 7.63 MnT in Q1 FY17. Out of which, 4.85 MnT iron ore was produced from its Bailadila mines in Chhattisgarh and 2.78 MnT iron ore was produced from its Karnataka mines.
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