Vedanta: Iron Ore Production Increases Two-Fold in FY17

Mining conglomerate – Vedanta has today (i.e. on 11 Apr’17) announced its production performance for FY17. The company reported saleable iron ore production of 10.9 MnT iron ore in FY17 against 5.2 MnT in the previous fiscal. Thus, miner’s saleable iron ore production has doubled in FY17.

Out of 10.9 MnT saleable iron ore produced in FY17, 8.8 MnT was produced from its mines in Goa. In FY16, its production from Goa was recorded at 2.2 MnT. It is to be noted that Vedanta achieved 2.6 MnT of additional production capacity granted in Goa.

However Vedanta’s iron ore production from Karnataka fell 30% Y-o-Y from 3 MnT in FY16 to 2.1 MnT in FY17.

It is to be noted that Vedanta remained the largest iron ore exporter in FY17. As per customs data maintained with SteelMint, Vedanta exported 7.32 MnT iron ore in FY17.

Vedanta’s iron ore production & sales in FY17:

Fig in MnT
Source: Company reports