Companies

NMDC production up 8%, sales rise 6% in FY21

Our Bureau Hyderabad | Updated on April 01, 2021

The State-owned iron ore mining company, NMDC has seen its ore production going up by 8 per cent to 34.11 million tonnes during 2020-21 (FY 2021) up from 31.49 mt last fiscal and its iron ore sales was up 6 per cent at 33.27 mt as against 31.51 mt.

The increase in production of iron ore and sales is significant in the backdrop of the first quarter ended June 2020 being adversely impacted by Covid pandemic lockdown.

The mining company’s quarterly production and sales of 12.31 mt and 11.11 mt in Q4 are the highest ever since inception and are more by 2.84 mt (30 per cent) and 2.49 (29 per cent) over previous year.

The Bailadila project at Chhattisgarh, Kirandul and Bacheli Complex have registered strong production volume growth.

Sumit Deb, CMD, NMDC, said, “It has been a year of challenges for everyone. Inspite of these situations, team NMDC has been able to excel on all fronts, including fight against Covid, enhance production and sales and also take care of its community. I am sure we will definitely surpass 42 MT in FY22 and with the new reforms in mining rules, NMDC would look for new opportunities for capacity enhancement.”

NMDC shares closed at ₹138.40, up 2.33 per cent, on the BSE.

Published on April 01, 2021

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