NMDC plans to increase iron ore output by more than 21% this fiscal

26 Apr 2023 CW Team

According to a senior official, the state-owned miner NMDC plans to produce 50 million tonnes of iron ore in the current fiscal year. The target implies a more than 21% increase from the company's 41.22 million tonnes of iron ore produced in fiscal 2022-23.

According to the unnamed official, NMDC plans to increase output to 60 million tonnes by FY27. The March quarter's output by NMDC was 14.29 million tonnes, the highest for a quarter. The company expects output to be consistent across quarters in FY24, with the exception of the September quarter, when production is likely to be impacted by monsoon rains.

Iron ore mines are owned by NMDC in Chhattisgarh and Karnataka. The country's largest iron ore producer is also considering exploring lithium reserves in Australia, where it owns a majority stake in a mine. "We are in the final stages of exploration...we have been getting positive results," DK Mohanty, production director, said. The mine is located in Mt Bevan, Australia, about 200 kilometres from Perth.

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