NMDC logs 29% rise in September sales

Posts 47% year-on-year increase in production

Public sector mining major NMDC produced 2.69 million tonnes (MT) of iron ore and posted a sales of 2.73 MT in September, an increase of 47% and 29% respectively from the performance a year earlier.

Production and sales for the fiscal up to September stood at 17.71 MT and 18.50 MT respectively.

This translated into an increase of 45% and 43% respectively over the same period last year.

Stating that it was the best ever Q2 and half-yearly performance, CMD Sumit Deb said in a release on Friday that a focus to enhance mine capacity and strengthen logistical support had significantly improved operational efficiency. With the performance, the “team has proven that NMDC is on a strong, stable footing to beat the challenges and absorb cyclical volatility.”

Addressing the AGM on Thursday, Mr. Deb said NMDC expects to produce 47 MT in current fiscal. The production was 34.15 MT last fiscal.

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