NMDC’s Iron Ore Production Down by 17%, Sales Up by 4% in Q2 FY17

NMDC produced 13.93 MnT iron ore in first two quarters of this fiscal, up by 13% Y-o-Y.

National Mineral Development Corporation (NMDC) – India’s largest iron ore producer has produced 13.93 MnT iron ore so far in this fiscal (i.e. from Apr’16-Sept’16). Comparing on yearly basis, iron ore production has increased by 13% as the production in the same period last fiscal was recorded at 12.37 MnT.

Out of 13.93 MnT iron ore produced, 8.33 MnT iron ore has been produced from its Chhattisgarh mines and remaining 5.6 MnT iron ore has been produced from its mines in Karnataka. Miner’s production from both the states have increased on yearly premises.

However if we compare on quarterly basis, NMDC’s iron ore production has fallen by 17% in Q2 FY17. NMDC produced 6.3 MnT iron ore in Q2 FY17 compared to 7.63 MnT iron ore in Q1 FY17. Decline in quarterly iron ore production was noticed owing to monsoon.

NMDC’s iron ore sales recorded at 15.83 MnT in first two quarters of FY17

NMDC’s iron ore sales in first two quarters (i.e. Apr-Sept) has increased by from 13.11 MnT in FY16 to 15.83 MnT in FY17.

Out of 15.83 MnT iron ore sold by NMDC so far in this fiscal, sales from Chhattisgarh was 9.87 MnT and that from Karnataka was 5.96 MnT. Miner’s iron ore sales from both the states have increased on yearly premises.

However if we compare on quarterly basis, NMDC’s iron ore sales has moved up by 4% in Q2 FY17. NMDC sold 8.06 MnT iron ore in Q2 FY17 compared to 7.77 MnT iron ore in Q1 FY17.