NMDC’s Iron Ore Production Falls by 27% in Jul’16

NMDC produced 9.55 MnT iron ore in first four months of FY17 and iron ore sales stood at 10.2 MnT in the same time period.

National Mineral Development Corporation (NMDC) has registered a fall of 27% M-o-M in its monthly iron ore production. The miner’s production dropped from 2.64 MnT in Jun’16 to 1.92 MnT in Jul’16. In Jul’16, iron ore production from its Chhattisgarh and Karnataka mines were 0.99 MnT and 0.93 MnT respectively. Production has been adversely impacted and has witnessed a decline owing to monsoons.

However on yearly premises, production figure is down by 23%. In Jul’15 NMDC’s iron ore production was recorded at 2.5 MnT.

So far in this fiscal (till Jul’16), NMDC has produced 9.55 MnT iron ore compared to 8.43 MnT in the same period last fiscal (up by 13% Y-o-Y).

NMDC’s iron ore sales down by 13% in July

NMDC’s iron ore sales fell by 13% M-o-M and stood at 2.43 MnT in Jul’16 against 2.79 MnT in Jun’16. Out of 2.43 MnT iron ore sold in Jul’16, 1.51 MnT was sold from its Chhattisgarh mines and 0.92 MnT iron ore from its Karnataka mines.

However on yearly basis, iron ore sales figure is down by 8% Y-o-Y (compared to 2.64 MnT in Jul’15).