NMDC’s iron ore production hits record 40 million tonnes a year
23 Mar 2022
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State-owned National Mineral Development Corporation Ltd (NMDC), India’s largest iron ore producer, has became the first company in the country to cross 40 million tonnes (MT) iron ore production in a year. From annual production of 4 million tonnes in the late 1960s to 40 million tonnes now (FY22), the growth trajectory of the largest iron ore producer of the country has been exceptional.
Starting from 4 million tonnes in 1969-70, NMDC crossed 10 million tonnes production in 1977-78, added another ten million by 2004-05, crossed 30 million tonnes within a decade and has now breached the 40 million mark.
Keeping pace with the constant surge in the domestic iron ore demand, the company has been rolling out ambitious expansion plans and capex outlay in pursuit of enhanced production. In recent times, NMDC has adopted cutting-edge technology and built a transformational digital infrastructure to overcome Covid-induced slowdowns and the cyclical volatilities in the sector.
Growing from scale to strength, the company has achieved the milestone of 40 million tonnes iron ore production on the back of steady fundamentals and a visionary workforce, a government release stated.
“NMDC’s ground-breaking achievement of becoming the first iron ore mining company in India to cross 40 MT is an illustrious display of its ability to accept challenges despite all odds. The company’s perseverance and consistency has paid off and I congratulate the team for this historic accomplishment. I am confident that we will continue to cross many more milestones on our way to fulfil Nation’s vision of #AtmanirbharBharat. This achievement also shows that we are on the track to become a 100 MTPA company by 2030,” Sumit Deb, chairman and managing director, NMDC, said.
It is pertinent to mention that the company has set a target of becoming a 100 MTPA company by 2030. The CPSE also plans to leverage their expertise in moving towards a multi-mineral outlook with coal, diamond, gold and other strategic minerals of national interest in their portfolio.
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