NMDC registers record jump in production & sales of iron ore in July

Despite the COVID-19 uncertainties, the mining giant NMDC has registered production improvement by 35 percent and sales by 20 percent in July 2020 as compared to the corresponding period in July 2019
NMDC registers record jump in production & sales of iron ore in July

Hyderabad: The mining major NMDC Limited, India's largest iron-ore producer and a diversified Navaratna PSU, recorded a sharp rise in overall production and sales in July 2020 as compared to the corresponding period in July 2019.

During this period, despite the current uncertain situation due to COVID-19, NMDC has been able to achieve excellent physical performance through its continual push towards higher volumes which saw the production of 2.19 MT and sales 2.57 MT that grew by 13 percent and 7 percent over the corresponding period last year, respectively.

In July 2020, the Chhattisgarh Projects registered a production of 1.56 million tonnes as compared to the total production of 1.16 million tonnes in the corresponding month of July last year, an increase of 35 percent in production. NMDC also achieved record sales in July 2020 by selling 1.90 million tonnes of Iron ore in July 2020 against 1.60 million tonnes in July 2019, which is 20% higher than the previous year.

"The last few months have been quite challenging for the entire industry due to the COVID-19 pandemic situation impacting the performance of all major producers. However, this challenge was treated as an opportunity by us to accelerate our efforts"- Sumit Deb, CMD, NMDC

NMDC Limited's Chairman-cum-Managing Director (CMD) Sumit Deb commented that "The last few months have been quite challenging for the entire industry due to the COVID-19 pandemic situation impacting the performance of all major producers. However, this challenge was treated as an opportunity by us to accelerate our efforts towards stabilizing the production and continuously improving our production processes. Going forward NMDC will strive to maximize cost efficiencies to improve its bottom-line."

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