To cater to the steel industry's growing appetite for iron ore, state-owned miner NMDC has decided to raise production capacity to 67 million tonnes per annum by 2021-22.
The company is producing nearly 30 mt of iron ore from three fully mechanised mines -- two in Chhattisgarh and one in Karnataka -- its homepage showed.
"NMDC has made a comprehensive plan to enhance iron ore production capacity to 67 million tonnes per annum (mtpa) by 2021-22 to meet growing requirements of iron ore of the Indian steel sector," the PSU said this its annual report for 2016- 17.
To achieve its goal, the company is looking to expand its footprint in India and abroad.
The strategy focuses on growth largely through brownfield expansion of existing mines and improving evacuation along with it.
"ICVL, a JV company of SAIL, RINL, NTPC, CIL and NMDC, acquired a coking and thermal coal mine in Mozambique. Operations were discontinued due to the depressed coking coal prices from December 2015. In view of upswing in the coking coal prices, ICVL is in the process of restarting operations at the Benga mine," it said. "Besides, NMDC is in the process of setting up of a pilot scale processing plant for gold in its mining lease in Tanzania."
In India, the company has plans to develop a greenfield mine through a joint venture with the Chhattisgarh State Mining Development Corporation (CSMDC).
Besides, as part of its diversification and forward integration plan, it is setting up a 3-mtpa greenfield steel plant in Chhattisgarh, which is in advanced stage of construction.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)