Companies

Tomar tells NMDC to step up iron ore output, fast-track projects

V. Rishi Kumar Hyderabad | Updated on January 24, 2018 Published on June 23, 2015

Steel Minister says only this will keep prices in check





Union Steel & Mines Minister N S Tomar has advised the National Mineral Development Corporation (NMDC) to step up output and come out with a long-term strategic plan.

According to Tomar, NMDC needs to bring more parity in its physical and financial performance.

To achieve the target of producing 75 million tonnes per annum (mtpa) iron ore by 2019-20, there needs to be visible incremental increase in production in consecutive years.

During his visit, Tomar told NMDC that mining as an industry has a negative perception in the minds of the public, which needs to be corrected by sustained efforts.

According to an NMDC statement, Tomar said, “NMDC, one of the largest miners in India, must focus on increasing iron ore production.

“This will have the twin benefit of keeping prices in check, and ensuring equitable supply of raw material to big and small producers.”

Delayed projects

“Delay in execution and commissioning of the ongoing projects needs to be curtailed.

“Nagarnar Steel Plant, Kumarswamy mechanised mines, Deposit 11-b and pellet plant projects must be put on fast track. Performance with respect to financial parameters like gross operating margin, profit after tax, and per employee profit, has scope for improvement.”

N Kothari, Chairman and Managing Director of NMDC, appraised the Minister on progress on a special purpose entity in Jharkhand, for which an MoU is likely to be signed next month.

He assured hot trials at the Nagarnar steel plant would commence by December 2016, and efforts would be made to fast track various projects.

Published on June 23, 2015

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