NMDC’s iron ore production hits record 40 mt in FY22

National Mineral Development Corporation (NMDC) announced that it reached a record of producing 40 million tonnes (mt) of iron ore in this fiscal year (FY) so far. In the last financial year, the company had produced 35 mt of iron ore. NMDC makes history becoming the first company in the country to cross 40 mt iron ore production in a financial year, the Ministry of Steel told the media. According to a company's official, by the FY2022 end, the production will reach a level of 42 mt. The Ministry of Steel told the media that NMDC has also set a goal of evolving as a 100 mt per annum company by 2030. NMDC Chairman and Managing Director Sumit Deb congratulated the NMDC team for this achievement and said that they would continue to overcome several milestones and fulfil the Atmanirbhar Bharat vision of the country. The Central Public Sector Enterprises (CPSE) also aims to leverage their expertise in moving towards a multi-mineral outlook with diamond, coal, gold, and other strategic minerals of national interest in their portfolio. NMDC Limited is a government-owned mineral manufacturer. It is under the Ministry of Steel, Government of India (GoI) and is working in the exploration of iron ore, copper, limestone, etc. The firm is based in Hyderabad, Telangana and is the largest iron-ore company in India. Image Source Also read: NDMC increases iron ore prices by Rs 400 per tonne