NMDC – – India’s largest iron ore miner witnessed an increase in total iron ore sales for the month of May’18 to 2.31 MnT, up 4% M-o-M as compared to 2.22 MnT in Apr’18. On yearly basis, iron ore sales witnessed 24% decrease as against 3.03 MnT in May’17.
In May’18, iron ore sales from Chhattisgarh mines recorded at 2.1 MnT, accounting 91% of total monthly sales. However, sales stood 10% up M-o-M, as against 1.91 MnT in Apr’18.
Sales from Karnataka marked at 0.21 MnT in May’18, have shown a decline further compared to 0.31 MnT in Apr’18. On yearly premises, NMDC’s Karnataka iron ore sales plunged by 80% against 1.06 MnT in May’17. The company has reduced sales from e-auction amid fall in offtake from JSW Steel resulted in fall in NMDC sales volumes.
NMDC iron ore output down 20% Y-o-Y in May’18
NMDC recorded decline further in May’18 production. The production was recorded at 2.12 MnT, down 12% M-o-M against 2.41 MnT in Apr’18. On yearly basis, the production depicted a fall of 20% compared to May’17 production was 2.65 MnT.
Out of the total iron ore production of 2.12 MnT in May’18, 1.52 MnT (72% of total production) was contributed by NMDC Bailadila mines in Chhattisgarh, down marginally by 3% M-o-M compared to 1.57 MnT in Apr’18. The remaining 0.6 MnT iron ore was produced from NMDC’s Karnataka mines, down sharply by 29% compared to 0.84 MnT in Apr’18.
In FY’18, NMDC registered best ever production and sales at 35.5 MnT and at 36.4 MnT respectively. Rendering the miner to increase its iron ore production capacity plans to 50 MnT by 2019-20 to achieve the target of 67 MnT iron ore by 2022.
In a major development, NMDC has got approval to enhance its iron ore production limit to 14 MnT by CEC (Central Empowered Committee) from previously allotted 9.45 MnT in Karnataka.
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