Hyderabad: Telangana government-run iron ore miner, NMDC produced and sold the highest amount of iron ore in the firm’s history in the month of May, this financial year.
While 3.71 MnT of iron ore was produced, 3.62 MnT was sold registering an upswing of 16 percent in production and 37 percent in sales over the corresponding period last year.
NMDC has made a strong start to the fiscal as their cumulative production and sales in FY24 witnessed a 13.7 percent and 22 percent growth respectively.
In the first two months of the financial year, the company produced 7.22 MnT and sold 7.05 MnT iron ore.
Chief managing director of NMDC, Amitava Mukherjee, while commending the new record on Wednesday said, “India’s volume of iron ore production has been predicted to grow by about 10 percent 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,” added the CMD.
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