Steady Start to FY23 for NMDC
The PSU continues to register growth in its physical performance
(in million tonnes)
|Year||April 2021||April 2022||Growth %|
National Mineral Development Corporation Ltd. (NMDC), Country’s largest iron ore producer, a CPSU under Ministry of Steel reported production of 3.15 Million Tonnes (MnT) and sale of 3.12 MnT of iron ore in the first month of FY23.
The company continues to register growth in its physical performance. Iron ore production in April 2022 was 0.6% higher than that of April 2021 and sales during the month saw a growth of 0.9% over the CPLY. Deriving strength from the 42 MnT produced in FY22, the mining major achieved the highest production for any April month in the company’s history.
Encouraging the team to keep up the spectacular performance, Shri Sumit Deb, CMD, NMDC said, “FY23 has started on the right note for us and is a reflection of our team’s hard work aligned with the company’s strategic posture. Our adoption of new technology and digital initiatives is strengthening our supply chain and making NMDC future ready. Having achieved the target of 42 MnT iron ore production, we are confident that NMDC will grow to become a 50 MnT mining company in the near future.”