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NMDC eyeing production of 35 MT of iron ore this fiscal

16 Aug 2016 Evaluate

NMDC, the country’s largest iron ore miner, is eyeing to increase its sales by 21% to 35 million tonnes (MT) in the current fiscal. The state-run firm also envisages raising iron ore production by 24% to 35 MT in 2016-17 from 28.32 MT in 2015-16. Iron ore sales of the Navratna firm stood at 28.87 MT in 2015-16, down from the 30 MT it had clocked in 2014-15.

The company plans to invest Rs 40,000 crore over eight years to achieve a target of 100 MT per annum (MTPA) iron ore production. The firm will invest in developing new mines, steel plant (Nagarnar), Legacy Iron ore company (Australia) and a slurry pipe line 9 from (Kirandul to Vizag), among others.

NMDC is a state-controlled mineral producer of the Government of India. It is fully owned by the Government of India and is under administrative control of the Ministry of Steel.



NMDC Share Price

89.78 2.60 (2.98%)
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Company Name CMP
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