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Published on 22/01/2018 11:23:26 AM | Source: Dion Global Solutions Ltd

NMDC to produce 45 MT iron ore in next fiscal: Reports

Posted in Industry News| #Industry #Mining Sector #NMDC Ltd.

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State-owned NMDC Ltd has said that it is planning to produce about 45 million tonnes (MT) of iron ore during the next financial year as against the expected 35 million tonnes in the current fiscal. Commenting on the issue, N Baijendra Kumar, CMD of NMDC told the media, "Last year, we achieved 34.5 million tonnes of production.

This year (FY18) the first two quarters were good. But unfortunately during the third quarter there was some problem in terms of rains affecting railway line.

That had taken away one-and-half months time. But still we are coping with the situation and the production levels are maintained." "We will be at par with that (output) for this year (FY18) if not exceeding it. We are aiming for 37 MT for FY18, but we may end up a little bit below - 35 MT is a safe assumption. We have to go up to 67 MT by 2022. For FY19, we are looking at 43-45 MT production. It again depends on factors like logistics," Kumar said.