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India's largest iron ore producer, NMDC, on Tuesday said it crossed 41-million tonne (mt) production of iron ore for the second fiscal in a row.
Producing 14.29 mt iron ore in the fourth quarter (Q4) and 5.6 mt in March of financial year 2022-23 (FY23), the state miner logged its best-ever fourth quarter and March production in the company's history. In FY23, NMDC produced 41.22 mt and sold 38.25 mt of iron ore despite the highest ever rainfall of 622 cm in Bailadila region since NMDC's inception. In the fourth quarter of this fiscal, the company reported 14.29 mt production which is the highest for any quarter since inception, according to a statement released by the ministry of steel on Tuesday. The state miner said it achieved this production milestone despite the monsoon offset by using vision enhancement technology to mitigate foggy weather, specialised mine liners to avoid jams and water absorbent polymers to reduce the moisture content in the ores. Rallying to increase its production capacity, the mining major has also enhanced its evacuation capacity in FY23. Amitava Mukherjee, chairman and managing director for additional charge, said, "Surpassing 41 mt of iron ore production despite unprecedented torrential rain encapsulates NMDC's strength, resilience, and an unswerving commitment to ensure mineral security. Fuelled by the best ever Q4 (fourth quarter) production in FY23, NMDC is entering FY24 with the right momentum." NMDC is involved in the exploration of iron ore, copper, rock phosphate, limestone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, coal, etc. It is India's largest iron ore producer and exporter, producing more than 35 mt of iron ore from three mechanised mines in Chhattisgarh and Karnataka. It also operates the only mechanised diamond mine in the country at Panna in Madhya Pradesh. (ANI)
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