NMDC records highest ever May month production and sales

Hyderabad: State Miner NMDC produced 3.71 million tonnes (MT) and sold 3.62 MT of iron ore in the second month of FY24, recording the highest ever May month production and sales in company history.

Registering an upswing of 16 per cent in production and 37 per cent in sales over corresponding period last year (CPLY), NMDC has made a strong start to the fiscal. Country’s largest iron ore producer has achieved its best ever April and May performances since inception in FY24.

NMDC’s cumulative production and sales in FY24 witnessed a 13.7 per cent and 22 per cent growth respectively. In the first two months of the financial year, the company produced 7.22 MnT and sold 7.05 MnT iron ore.

Commenting on this performance, Amitava Mukherjee, CMD (Additional Charge) said on Wednesday that “India’s volume of iron ore production has been predicted to grow by about 10 per cent in FY24. As the largest contributor to this volume, NMDC has set the momentum right with record production and sales at the start of FY24.

Our investment in new age tech and digitalization is paying rich dividends to the company and the industry.”