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NMDC's Q1 iron ore production rises 7%

27 Jul 2011 Evaluate

State-run iron ore miner NMDC production had risen by about 7% to 6.1 million tonne during the April-June quarter riding on the back of improved logistics and better weather conditions. The company had produced 5.7 million tonne of iron ore in the corresponding quarter of 2010-11. At this time last year, the seasonal rains had played a dampener but this year the company produced more as rains did not impact our operations that much.

During the quarter, sales of iron ore rose by about 12% at 6.95 million tonne vis-a-vis 6.2 million tonne in the first quarter of last year. Sales volumes exceeded production during the quarter due to unsold inventory and increased availability of railway wagons. In July, the company’s production has been 2 million tonne of iron ore, while sales of the raw material has been reported at 2.3 million tonne. So we have already exceeded the targets for the month. NMDC which supplies nearly 90% of its output to domestic steel companies like JSW Steel, Essar Steel, and Rashtriya Ispat Nigam, had produced 25.19 million tonne of iron ore in 2010-11, while its sales were at 26.33 million tonne.crackcrack

NMDC Share Price

89.78 2.60 (2.98%)
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Company Name CMP
Coal India 438.70
NMDC 89.78
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