NMDC Posted Increase in Iron Ore Sales in April

National Mineral Development Corporation Ltd (NMDC) said its production and sales of iron ore rose marginally by around one per cent year-on-year in the first month of the current financial year.

The company's production rose to 3.15 million tonnes in April 2022 from 3.13 million tonnes in the same month last year, showing a growth of 0.6 per cent year-on-year.

NMDC's iron ore sales rose to 3.12 million tonnes in April 2022 from 3.09 million tonnes in April 2021, registering a growth of 0.9 per cent.

Deriving strength from the 42 million tonnes produced in FY22, the mining major achieved the highest production for any April month in the company's history, the Ministry of Steel said in a statement.

National Mineral Development Corporation Ltd is a central public sector enterprise under the Ministry of Steel.

"FY23 has started on the right note for us and is a reflection of our team's hard work aligned with the company's strategic posture. Our adoption of new technology and digital initiatives is strengthening our supply chain and making NMDC future ready," said Sumit Deb, chairman and managing director, NMDC.

"Having achieved the target of 42 million tonnes iron ore production, we are confident that NMDC will grow to become a 50 million tonnes mining company in the near future," Deb said.