New Delhi: NMDC Limited, after a remarkable performance in the crisis year of 2020, has continued with its excellent performance in the first month of the year 2021. Iron ore production for the month of January 2021 stood at 3.86 MT (Million Tons) against the production level of 3.31 MT in January 2020, thereby registering a growth of 16.7 percent. January 2021 production and sales are the highest ever January production and sales since the inception of NMDC. On January 31 this year, NMDC was able to achieve production of 1.65 lakh tonnes on a single day which is the highest for any day in this financial year.
Iron ore sales for the month of January 2021 is 3.74 MT against the sales level of 2.96 MT in January 2020, thereby registering a growth of 26.4 percent.
Iron ore production up-to January in FY 2021 is 25.66 MT i.e. at par with CPLY. Similarly, iron ore sales up-to January in FY 2021 is 26.01 MT which is above CPLY, in spite of COVID-19 pandemic this year.
With the encouraging production and sales figures this year, NMDC will exceed the production and sales of the previous year. The steady performance in 2020-21 despite the problems caused by the COVID-19 pandemic and the continuous improvement in performance showcases the determination and grit of team NMDC.
Speaking about the production achievements, NMDC CMD Sumit Deb commented, "NMDC is on its way to exceed and maintain its leadership in the industry. We performed remarkably well during the crisis of 2020 and with modern processes being implemented we are confident to do even better. NMDC is the first PSE to implement SAP S4 HANA making us frontrunners in the digital transformation of the mining industry. I congratulate team NMDC for the excellent performance and I have faith that going forward we will continue to break new grounds."
Commenting on budget Deb said "this union budget has given thrust on infrastructure, along with manufacturing. This will drive the demand for steel which in turn will drive the demand for iron ore. NMDC with its seven operational iron ore mines is committed to meet the increased demand of iron ore in the country. With higher spending in these sectors, the budget has taken steps in the right direction to continue reviving the economy. This shall further increase employment opportunities in the country through private and public investments that was paved through the boost on infrastructure and other sectors."
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)