NMDC Boosts Iron Ore Production But Faces Sales Dip

State-owned NMDC reported a 5.1% increase in iron ore production to 4.71 million tonnes in December, compared to 4.48 million tonnes in the previous year. Despite the production rise, sales fell to 3.91 million tonnes from 4.19 million tonnes. The data remains provisional.

State-owned NMDC has reported a notable increase in its iron ore production, achieving a 5.1% rise to compile a total of 4.71 million tonnes in December. In comparison, the same month in the prior fiscal year saw a production of 4.48 million tonnes, according to NMDC's filing with the BSE.

Despite this increase in production figures, NMDC experienced a decline in its sales numbers for December. The iron ore sales dropped to 3.91 million tonnes, marking a decrease from the 4.19 million tonnes recorded the previous year. It is important to note that these production and sales figures are currently provisional.

Headquartered in Hyderabad and operating under the Ministry of Steel, NMDC is recognized as the largest iron ore mining company in India. The company contributes approximately 20% to the country's demand for iron ore, a crucial raw material in steel making.

(With inputs from agencies.)