Millennium Post

Ore miner NMDC’s Aug sales soar 23%

State-owned iron ore miner NMDC on Monday reported a 23 per cent jump in sales for August at 25.2 lakh tonnes. In a statement, the largest miner of the key steel-making raw material said during the same month last year, it had dispatched 20.5 lakh tonnes iron ore.

Production of the company during the month also rose by 14 per cent to 22.3 lakh tonnes from 19.6 lakh tonnes during August last year.  ‘This is NMDC's best-ever production in the month of August, the previous best was 21.6 lakh tonnes in August 2011,’ it said.

During the first four months of the current fiscal, NMDC had produced 98.8 lakh tonnes of iron ore compared to 88.7 lakh tonnes a year ago. Sales during the April-July period also rose to 111.1 lakh tonnes from 94 lakh tonnes a year ago.

Meanwhile, in a filing to the stock exchanges, NMDC said that its Finance Director S Thiagrajan has got an ‘ad-hoc’ extention of tenure for three months beyond July 8, 2014.
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