National Mineral Development Corporation (NMDC) – India’s largest iron ore producer recorded a drop in its monthly production in May’17.
In May’17, NMDC’s iron ore production was recorded at 2.65 MnT, down 11% M-o-M. In Apr’17, the miner produced 2.98 MnT iron ore.
Out of 2.65 MnT iron ore produced in May’17, 1.68 MnT was produced from NMDC’s Bailadila mines in Chhattisgarh, down 15% M-o-M. And rest 0.97 MnT was produced from its mines in Karnataka, down 3% M-o-M.
In May’16, NMDC’s iron ore output was recorded at 2.79 MnT.
NMDC iron ore sales down by 15% M-o-M in May’17 – NMDC’s iron ore sales stood at 3.03 MnT in May’17. Out of which iron ore sales from Chhattisgarh and Karnataka mines were at 1.97 MnT and 1.06 MnT respectively.
NMDC’s iron ore sales in Apr’17 were recorded at 3.56 MnT. However on yearly premises sales are up by 25% as it was 2.43 MnT in May’16.
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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