NMDC Iron Ore Production Up 13% in Apr-Feb - Business News
Mar 01, 2024 17:52
NMDC's iron ore production increased 13% in Apr-Feb 2023-24, reaching 40.24 million tonnes. Sales also surged 21% to 40.48 MT during the period.
Photograph: NMDC/LinkedIn
New Delhi, Mar 1 (PTI) State-owned miner NMDC on Friday posted around 13 per cent jump in iron ore production to 40.24 million tonne during the April-February period of the 2023-24 fiscal.
Its cumulative production was 35.62 MT in the year-ago period, the steel PSU said in an exchange filing.
However, the company's production in February fell 12 per cent to 3.92 MT as against 4.48 MT in the same month last year.
The cumulative sales in April-February this fiscal was 40.48 MT, up 21 per cent from 33.42 MT in the last financial year.
In February, the sales increased to 3.99 MT from 3.78 MT in February 2023, a rise of about 6 per cent.
NMDC, under the Ministry of Steel, is the country's largest iron ore mining company that meets around 20 per cent of the country's demand of key raw material for steel making.
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