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.
