New Delhi, March 4 : Government-owned mining major NMDC has reported a 17.85 per cent increase in iron ore production in February this year to 4.62 million tonnes (MT) from 3.92 MT recorded in the same month of the previous year.
The cumulative iron ore production in the April-February period rose to 40.49 MT over 40.24 MT in the year-ago period, the filing said.
However, the company’s iron ore sales slightly declined to 3.98 MT during the month compared to 3.99 MT in February 2024.
The sale of iron ore in February was at 3.98 MT, over 3.99 MT in the last February fiscal.
Hyderabad-headquartered NMDC is the country’s largest iron ore mining company. The PSU alone caters around 20 per cent to the country’s demand for the key steel-making raw material.
The company’s cumulative production for the year up to February 2025 reached 40.49 MT, reflecting a slight increase of 0.62 per cent compared to the same period last year, while sales for the same period stood at 40.20 MT, marking a marginal decline of 0.69 per cent compared to the previous year.
NMDC is India’s single largest iron ore producer, presently producing about 35 million tonnes of iron ore from three fully mechanized mines, two located in Chhattisgarh and one in Karnataka. The Government of India holds a 60.79 per cent stake in the company.
“The 18 per cent boost in production output represents a strong operational momentum. Consistent growth of this kind results from an efficient mining ecosystem,” Amitava Mukherjee, Chairman and Managing Director (Additional Charge), said.
“We have lined up an expansion plan in the next financial year and are exploring new opportunities. We are confident that our efforts will continue to propel self-reliance in India,” he said.
He said NMDC was committed to building a 100-million-tonne iron ore mining capacity by 2030.
“The company has announced a massive capital expenditure plan to achieve the target,” the statement said.
NMDC recorded a 29.04 per cent jump in its consolidated net profit to Rs 1,896.99 crore in the October- December quarter of the current financial year as compared with Rs 1,470.09 crore in the same quarter of 2023-24. Revenue from operations increased 21.4 per cent year-on-year to Rs 6,567.83 crore in the third quarter of 2024-25. (IANS)