Companies

NMDC July iron ore production, sales up

Our Bureau Hyderabad | Updated on August 04, 2020 Published on August 04, 2020

NMDC, the State-owned iron-ore producer, has recorded a sharp rise in overall production and sales in July 2020 as compared to the corresponding period in July 2019.

During this period, despite Covid-19, NMDC has been able to achieve recorded higher volumes with production of 2.19 million tonnes and sales 2.57 mt that grew by 13 per cent and 7 per cent, respectively, over the corresponding period last year, respectively.

In July 2020, the Chhattisgarh Projects registered a production of 1.56 mt as against 1.16 mt in the corresponding month of July last year, an increase of 35 per cent in production. NMDC also achieved record sales in July 2020 by selling 1.90 mt of iron ore in July 2020 against 1.60 mt in July 2019, up 20 per cent over same period of the previous year.

Sumit Deb, CMD of NMDC, said, “The last few months have been quite challenging for the entire industry due to the COVID-19 pandemic situation impacting the performance of all major producers. However this challenge was treated as an opportunity by us to accelerate our efforts towards stabilising the production and continuously improving our production processes. Going forward NMDC will strive to maximise cost efficiencies to improve its bottomline.”

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Published on August 04, 2020
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