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NMDC records 19% growth in the production of iron ore in July

Iron ore production increased by 19% to 2.44 million tonnes in July from the same month last year, according to state-owned mining giant NMDC, whose sales increased by 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 tonnes and sold 3.03 million tonnes 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.

Production at the company increased by over 20% to 13.15 MT for the four months that ended in July, while sales increased by 33.5% to 14.18 MT.

“The company produced 13.15 million tonnes and sold 14.18 million tonnes 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 so far achieved record results in FY24 and is setting the stage to become a 100 MT (million tonnes) mining enterprise. Additionally, NMDC is preparing to surpass its record production of 40 MT for two consecutive fiscal years.

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