NMDC iron ore output grows 13 pc in Jul; sales up 7 pc

Updating on its monthly performance, the miner said it recorded a sharp rise in overall production and sales in July 2020 as compared to the year-ago month. In a statement, NMDC said that during July 2020, despite the current uncertain situations due to COVID-19, it has been able to achieve the level.

State-owned NMDC has said it registered a 13 per cent rise in its iron ore production to 2.19 million tonnes (MT) and a 7 per cent increase in sales to 2.57 MT in July despite market challenges. Updating on its monthly performance, the miner said it recorded a sharp rise in overall production and sales in July 2020 as compared to the year-ago month.

In a statement, NMDC said that during July 2020, despite the current uncertain situations due to COVID-19, it has been able to achieve the level. It recorded production of 2.19 MT and sales of 2.57 MT, a rise of 13 per cent and 7 per cent year-on-year, respectively. NMDC Chairman and Managing Director Sumit Deb said, "Last few months have been quite challenging due to the COVID-19 pandemic, impacting the performance of all major producers." He added that this challenge was treated as an opportunity by the company to accelerate its efforts towards stabilising the production and continuously improving its production processes. "Going forward, NMDC will strive to maximise cost efficiencies to improve its bottom line." NMDC, under the Ministry of Steel, is the country's largest iron ore miner.

Besides iron ore, it is also involved in the exploration of a wide range of minerals like copper, rock phosphate, lime stone, dolomite and gypsum..

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