India Iron Ore Production Expected to Touch 180 MnT in FY17

A close study by SteelMint Research forecasts that Indian iron ore production is expected to clock 180 MnT mark for the FY17.

For FY16 India had a production of 155.89 MnT iron ore 21% higher compared with 128.88 MnT in FY15. At the considerable rate of increase of 15% for the year 180 MnT should be considered underpromised target.

For the fiscal, (till Dec’16) India’s iron ore production is recorded at 134.1 MnT, up 28% Y-o-Y. From Apr’15-Dec’15, India’s iron ore production was recorded at 104.93 MnT.Odisha Iron ore production to touch 100 MnT in FY17– So far in this fiscal (till Dec’16) Odisha’s iron ore production was recorded at 68.4 MnT up 34% Y-o-Y. In the same period last fiscal, the figure stood at 51.2 MnT. In FY16 Odisha’s iron ore output was recorded at 80 MnT. SteelMint anticipates that owing to increased production from major miners namely Rungta Mines, Serajuddin Mines, KJS Ahluwalia, the state’s iron ore production will remain at around 100 MnT in this fiscal.

NMDC’s Iron Ore Production from C.G. Mines Moved up sharply in FY17 – SteelMint expects CG iron ore production to increase by 17% Y-o-Y in FY17. For FY-17 NMDC’s total Iron ore production stood at 27.1 MnT at the end of Jan-2017. NMDC’s mines in CG have produced 17.23 MnT iron ore till Jan-17.

NMDC’s CG unit had produced 16.6 MnT Iron ore in FY16 whereas the same facility is running way ahead at the end of Jan-2017 at 17.23 MnT which is 3.8% more before the financial year ends.

Karnataka iron ore production likely to remain similar to last fiscal-Karnataka produced 25 MnT iron ore in FY16 out of which 11.72 MnT was from NMDC. The NMDC mines in Karnataka produced 9.87 MnT for the same period of Apr-Jan17.

Major iron ore producing states Odisha and CG and Karnataka have contributed 83% of total output for FY16 with 129.5 MnT material and 79% with 101.58 MnT material in FY15.

Iron ore production in Goa also on the rise. Vedanta one of the large miners from the state also have increased production numbers for the period of Apr-Dec’16, Vedanta produced 5.2 MnT iron ore from its mines in Goa in FY17 (till Dec’16) against 0.3 MnT in the same period last fiscal. Miner achieved full year production cap of 5.5 MnT in Jan’17.

With such leaping numbers from all the corners, India is set to touch 180 MnT iron ore production by the end of FY17.