NMDC eyes selling 35 MT iron ore this fiscal

TIL Desk Business/New Delhi-The country’s largest iron ore miner NMDC aims to increase its sales by 21 per cent to 35 million tonnes (MT) in the current fiscal.

The state-run firm also envisages raising iron ore production by 24 per cent to 35 MT in 2016-17 from 28.32 MT in 2015-16, NMDC Chairman and Managing Director (CMD) Bharthi S Sihag was quoted as saying in a company statement. Iron ore sales of the Navratna firm stood at 28.87 MT in 2015-16, down from the 30 MT it had clocked in 2014-15.

“NMDC intends to increase its iron ore mining capacity to 50 MT per annum (MTPA) by 2018 and envisages to produce and sell 35 MT iron ore during 2016-17,” Sihag said in her Independence Day address. She applauded NMDC’s excellent performance and urged the employees to go the extra mile to excel and reach commanding heights.