Sunday, June 23, 2024

NMDC Ltd produces 41.22 million tonnes iron ore in previous fiscal

NEW DELHI: State-owned NMDC Ltd on Tuesday announced that it has crossed 41 million tonne production of iron ore for the second fiscal in a row.

“In FY2022-23, NMDC produced 41.22 million tonne and sold 38.25 million tonne of iron ore despite the highest ever rainfall of 622 centimeters in Bailadila region since NMDC’s inception,” the Ministry of Steel said in a statement.

In the fourth quarter of this fiscal, the company reported 14.29 MT production which is the highest for any quarter since inception.

Producing 14.29 million tonne of iron ore in the fourth quarter and 5.6 million tonne in March of the financial year 2022-23, the state miner logged its best-ever fourth quarter and March month production in company history.

NMDC achieved this production milestone despite the monsoon offset by using vision enhancement technology to mitigate foggy weather, specialised mine liners to avoid jams and water-absorbent polymers to reduce the moisture content in the ores.

Rallying to increase its production capacity, the mining major has also enhanced its evacuation capacity in FY2022-23.

Commenting on the strong performance, Amitava Mukherjee (CMD, Additional Charge) said, “Surpassing 41 MT of iron ore production despite unprecedented torrential rain encapsulates NMDC’s strength, resilience, and an unswerving commitment to ensure mineral security. Fuelled by the best-ever Q4 production in FY23, NMDC is entering FY2023-24 with the right momentum.”

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