National Mineral Development Corporation (NMDC) – India’s largest iron ore producer recorded a drop of 17% in its monthly iron ore production in Jul’17.
The miner produced 2.41 MnT iron ore in July against 2.89 MnT in Jun’17. NMDC iron ore production from Chhattisgarh fell 27% M-o-M and that from Karnataka increased marginally 2% in July. However on yearly premises (i.e compared to Jul’16), production is up by 26%.
So far in FY18 (till July) NMDC produced 10.93 MnT iron ore, up 14% Y-o-Y.
Out of 10.93 MnT iron ore produced, 6.86 MnT was produced from NMDC’s Bailadila mines in Chhattisgarh. And rest 4.07 MnT was produced from its mines in Karnataka.
NMDC iron ore sales up 8% M-o-M in Jul’17 – NMDC’s iron ore sales stood at 2.83 MnT in Jul’17 against 2.62 in Jun’17, thus up by 8% M-o-M. Out of total 12.04 MnT iron ore sales during Apr-Jul sales from Chhattisgarh and Karnataka mines were at 7.53 MnT and 4.51 MnT respectively. NMDC’s monthly iron ore sales from its Chhattisgarh mines have increased by 3% M-o-M and by 17% M-o-M from Karnataka mines.
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.
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