NMDC logs record output, sales in FY’18

The country’s largest iron ore miner National Mineral Development Corporation (NMDC) said on Thursday that it has clocked record production and sales for 2017-18 at 35.50 MT and 36.1 MT, respectively.

The production rose 4.40% from 34 million tonne (MT) in 2016-17. The sales grew 1.40% to 36.1 MT from 35.6 MT in the previous fiscal. “Since the company’s inception this is the highest sales and production,” a company official said.

While in Chhattisgarh, the company produced 23.50 MT of iron ore in 2017-18, the production in Karnataka was 12 MT. Iron ore is the main ingredient used in the manufacture of steel.

Incorporated in 1958 as a fully government-owned public enterprise, NMDC is under the administrative control of Ministry of Steel.

It is involved in the exploration of a wide range of minerals including iron ore, copper, rock phosphate, lime stone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, beach sands etc.

Recently, the company entered a pact with Indian Rare Earths Limited (IREL) to explore opportunities in rare earth elements in the country and abroad.