India’s largest iron ore producer NMDC reported a more than 2% year on year decline in the output at 44.04 million tonnes for 2024-25, while sales at 44.40 MT was a tad lower.
In the previous fiscal, the State-owned miner had posted a record 45.2 MT production and 44.48 MT sales.
In March, which saw workers protest over wages for about two weeks impacting the output, production of the key raw material for steel declined almost 27% to 3.55 MT (4.86 MT).
Sales for the month increased more than 6% to 4.21 MT (3.96 MT). The company said the steady growth projects NMDC’s resilience despite all odds.
Q4 sales at 12.66 MT (12.54 MT) was the highest-ever since inception, NMDC said. Production for the quarter stood at 13.27 MT.
“Despite challenges, NMDC’s strategic planning and sustained efforts enabled us to maintain our top line in FY 2024-25. As we step into the new financial year, India’s iron ore demand continues to rise, driven by lower exports and steady expansion in merchant mining,” CMD Amitava Mukherjee said.
“FY26 brings us one step closer to our ambitious goal of reaching 100 million tonnes of production capacity by 2030. We must continue to drive efforts to optimise productivity and streamline operations,” he said.
During the fiscal ended March 31, the company recorded its highest-ever standalone capital expenditure of Rs.3,707 crore thus demonstrating strategic foresight and a strong commitment to capacity expansion, NMDC said in a release.
Published – April 01, 2025 09:31 pm IST
