NMDC India’s largest iron ore producer has reported increase of 4% M-o-M in Oct’17 as it was 2.58 MnT iron ore in Oct’17 against 2.47 MnT in Sept’17. Out of 2.58 MnT iron ore produced in Oct’17, 1.57 MnT was produced from NMDC’s Bailadila mines in Chhattisgarh, down 3% M-o-M and the rest 1.01 MnT was produced from Karnataka mines, up 19% M-o-M.
On yearly premises (i.e compared to Oct’16), NMDC ‘s iron ore production in Oct’17 has come down by 10%.
So far in FY18 (till Oct’17) NMDC’s iron ore production has been recorded at 18.23 MnT compared to 16.8 MnT in the same time period last year, up by 9% Y-o-Y.
NMDC iron ore sales down 16% in Oct’17- Sales were down by 16% M-o-M to 2.19 MnT in Oct’ 17 against 2.62 MnT in Sept’17. Iron ore sales from its Chhattisgarh mines was recorded at 1.61 MnT in October and that from Karnataka stood at 0.58 MnT.
So far in FY18 (till Oct’17) NMDC’s iron ore sales has been recorded at 19.8 MnT compared to 18.96 MnT in the same time period last year, up by 4% Y-o-Y.
NMDC achieved nearly 20% yearly growth in its iron ore output last fiscal and produced 34.15 MnT FY’17 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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