OMV ups target in production and sale
The state run Odisha Mining Corporation (OMC) on Saturday set a target to achieve highest ever production of 8 million ton and sale of iron ore during the ongoing fiscal.
Chief secretary A P Padhi reveiwing the activities of OMC said beating the global market slowdown, the Corporation could sell around 7.7 million tons of iron ore during 2016-17 against the total sale of 4.5 million tons the previous fiscal.
The sale of iron ore up to July 31 of the current year (2017-18) has crossed 2.14 million tons thereby recording an increase of 9 per cent over the same period of last year.
OMC has also started its business operation for sale of around 1 MT chromites during 2017-18 against 0.8 million ton of sale in the last financial year inspite of the drastic fall in ferro-chrome price.
The sale value of this production is expected to be around Rs 2800 crore which also would be highest in comparison to last five years,