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HYERABAD: The National Mineral Development Corporation (NMDC) has embarked on expansion plans to step up its iron ore production from the existing 18 million tonnes (mt) to 30 mt per annum by the year 2009-10, according to the Chairman and Managing Director, Mr B. Ramesh Kumar.

Addressing the annual general meeting here on Wednesday, Mr Kumar said that the corporation accounted for 18.2 per cent of the total sales of 114 mt of iron ore in the country last fiscal. It had exported 7.1 mt of ore, which was 11 per cent of India's total iron ore exports and 1.3 per cent of the global trade.

Last year, he said, NMDC had posted a profit before tax of Rs 616 crore. Its earnings per share stood at Rs 32.74 and the corporation had declared a dividend of 35 per cent.

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