NMDC Iron Ore Production Declines Despite Sales Surge

NMDC, India's largest iron ore miner, reported an 11% decrease in production in July, down to 2.17 million tonnes from 2.44 million tonnes a year ago. However, sales increased to 3.06 million tonnes from 2.91 million tonnes. Cumulative output for April-July fell, while sales slightly rose.

India's largest iron ore miner, NMDC, reported an 11% year-on-year decline in production, having produced 2.17 million tonnes in July, compared to 2.44 million tonnes in the same month the previous year, according to a filing to BSE.

Despite the drop in production, NMDC saw a rise in sales for the reporting month, increasing to 3.06 million tonnes compared to 2.91 million tonnes a year before.

Over the April-July period, NMDC's cumulative iron ore output fell from 13.15 million tonnes to 11.36 million tonnes year-on-year. However, the company's sales during this period slightly rose to 13.15 million tonnes from 13.13 million tonnes. The Hyderabad-based company fulfills around 20% of the country's demand for this essential steel-making raw material.

(With inputs from agencies.)