NMDC Smashes May Mining Targets: Extraordinary Output and Sales Numbers Achieved

NMDC, a government-owned company, witnessed a noteworthy 16% year-on-year increase in iron-ore output during the month of May, reaching 3.71 million metric tons (MT). Moreover, iron-ore sales were equally impressive, surging by 37% to reach 3.62 MT.

Both production and sales figures achieved by NMDC in May were the highest ever recorded for that particular month since the company's inception. Additionally, in the initial two months of the fiscal year, iron-ore production totalled 7.22 MT, representing a rise of 13.7%, while iron-ore sales grew by 22% to reach 7.05 MT, according to NMDC.

Amitava Mukherjee, the CMD of NMDC, expressed that India's iron-ore production is anticipated to grow by approximately 10% in FY24. Mukherjee further stated that NMDC, as the largest contributor, has established a strong momentum with its record-breaking production and sales achievements.