Business News | NMDC Posts 18.14 Per Cent Increase in Iron Ore Production in January
Get latest articles and stories on Business at LatestLY. India's largest producer of iron ore National Mineral Development Corporation (NMDC) on Wednesday said it produced a record 4.56 million tonnes of the ore in January, posting year-on-year growth of 18.14 per cent.
New Delhi [India], February 2 (ANI): India's largest producer of iron ore National Mineral Development Corporation (NMDC) on Wednesday said it produced a record 4.56 million tonnes of the ore in January, posting year-on-year growth of 18.14 per cent.
NMDC's sales rose by 13.4 per cent to 4.24 million tonnes in January 2022. This is the highest ever iron ore production and sales in any January month since inception, the Ministry of Steel said in a statement.
Cumulative production and sales figures for the first ten months of the financial year 2021-22 stood at 32.88 MT and 32.60 MT, respectively. These figures registered the best ever 10 months physical performance of NMDC. The company achieved a growth of 28.14 per cent in production and 25.34 per cent in sales over the same period last year.
"It has been a good beginning to a year that looks to be a very promising one given the Government's continued focus and enhanced expenditure on infrastructure in the Union Budget 2022. India registered an 18 per cent growth in steel production in 2021, the Budget today provides a strong foundation for a continuation to this growth story," said Sumit Deb, Chairman and Managing Director, NMDC. (ANI)
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