National Mineral Development Corporation (NMDC) – India’s largest iron ore producer recorded an increase of 12% in its quarterly iron ore production in Q1 FY18. The miner produced 8.52 MnT iron ore in Q1 FY18 against 7.63 MnT in Q1 FY17, thus output marked an increase of 12%.
Out of 8.52 MnT iron ore produced in Q1 FY18, 5.51 MnT was produced from NMDC’s Bailadila mines in Chhattisgarh, up 14% Y-o-Y. And rest 3.01 MnT was produced from its mines in Karnataka, up 8% Y-o-Y.
In Jun’17, NMDC’s iron ore production was recorded at 2.89 MnT, up 9% M-o-M. In May’17, the miner produced 2.65 MnT iron ore.
NMDC iron ore sales up 19% Y-o-Y in Q1 FY18 – NMDC’s iron ore sales stood at 9.21 MnT in Q1 FY18 against 7.71 in Q1 FY17, thus up by 19% Y-o-Y. Out of total 9.21 MnT iron ore sales from Chhattisgarh and Karnataka mines were at 5.81 MnT and 3.4 MnT respectively.
NMDC’s iron ore sales in Jun’17 were recorded at 2.62 MnT, down 14% M-o-M.
NMDC achieved nearly 20% yearly growth in its iron ore output last fiscal and produced 34.03 MnT against 28.58 MnT in FY16. The iron ore miner significantly raised its iron ore output from Chhattisgarh mines from 16.6 MnT in FY16 to 22.03 MnT in FY17.
Leave a Reply