NMDC records 19% growth in iron ore production in July

New Delhi: State-owned mining major NMDC on Wednesday reported a 19% increase in iron ore production to 2.44 million tonne in July from the year earlier, while sales rose 2.7% to 3.03 MT.

“National Mineral Development Corporation (NMDC), a Navratna miner under the Ministry of Steel, has reported record-breaking production for the period up to July 2023. In July alone, the mining major produced 2.44 million tonne and sold 3.03 million tonne of iron ore, showing a month-on-month growth of 19% and 2.7% in production and sales respectively,” the ministry of steel said in a statement.

For the four months ended July, the company’s production rose nearly 20% to 13.15 MT, while sales rose 33.5% to 14.18 MT.

“The company produced 13.15 million tonne and sold 14.18 million tonne of iron ore up to July 2023, showing a year-on-year growth of 20% and 33.5% in production and sales respectively,” it added.

The national miner has delivered record performances in FY24 so far and is paving the way towards becoming a 100 MT (million tonne) mining company. NMDC is also gearing up to surpass its record production of 40 MT for two fiscals in a row.