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NMDC sees 13% jump in production in July

NMDC sees 13% jump in production in July
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NMDC sees 13% jump in production in July

Highlights

NMDC, the leading iron-ore producer, registered 13 per cent jump in total production and seven per cent increase in total sales during July this year compared to the same month a year ago.

Hyderabad: NMDC, the leading iron-ore producer, registered 13 per cent jump in total production and seven per cent increase in total sales during July this year compared to the same month a year ago.

Despite the current uncertain situation due to Covid-19, NMDC saw its production increase by 13 per cent to 2.19 million tonnes and its sales up by seven per cent to 2.57 MT over the corresponding period last year.

In July 2020, the corporation's Chhattisgarh Projects registered a production of 1.56 million tonnes as compared to 1.16 million tonnes in the corresponding month of July last year, an increase of 35 per cent. NMDC also achieved record sales in July 2020 by selling 1.90 MT of iron ore against 1.60 MT in July 2019, a growth of 20 per cent.

Sumit Deb, CMD, NMDC, said: "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, he added.

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