NMDC sales crosses 40 MT Iron ore, Best Ever in 11 Month of FY 2024

Excelsior Correspondent

HYDERABAD, Mar 1: National Mineral Development Corporation Ltd. (NMDC), Country’s largest Iron Ore producer, delivered its best ever cumulative volumes up to February 2024.
NMDC produced 3.92 million tonnes and sold 3.99 million tonnes of iron ore in February 2024, taking the cumulative tally to 40.24 million tonnes production and 40.48 million tonnes sales in 11 months of FY24.
Achieving its highest ever 11 month iron ore volumes in company history, NMDC is geared up to set new milestones in FY24.
The 3.99 million tonnes sales are 6% higher than the volume of iron ore sold in February 2023.
Congratulating his team for this performance, Amitava Mukherjee, CMD (Additional Charge) said, “The first mining company in India to cross the 40 million tonne mark and to achieve this milestone three times in row, we are poised to deliver historic iron ore volumes in FY24. NMDC’s growth has a multiplier effect throughout the economy. We are strategically positioning ourselves to augment this growth by ramping up production capacities, enhancing supply chain reliability and transforming towards NMDC 2.0.”
Keeping pace with the constant surge in the domestic iron ore demand, the company has been rolling out ambitious expansion plans and capex outlay in pursuit of enhanced production.
In recent times, NMDC has adopted cutting-edge technology and built a transformational digital infrastructure in the sector.
Growing from scale to strength, the company has achieved the milestone of 40 million tonnes iron ore production on the back of steady fundamentals and a visionary workforce.
The company reported a growth of 13% in cumulative production and 21% in cumulative sales upto February 2024 over CPLY.