TFP Bureau, Hyderabad, Dec 4, 2023: National Mineral Development Corporation (NMDC), a major player in the mining sector, has achieved its best-ever performance for the month of November, showcasing remarkable growth in both production and sales.
In November 2023, NMDC recorded a historic production figure of 3.83 million metric tonnes (MnT), marking a significant 6% increase compared to November 2022, where production stood at 3.61 MnT. Simultaneously, the company achieved a remarkable sales figure of 3.79 MnT, reflecting a substantial growth of 24.7% over the corresponding period last year.
The cumulative performance for the period up to November 2023 is equally impressive. NMDC’s cumulative iron ore production has reached an all-time high of 27.31 MnT, registering a robust growth of 17.11% over the Cumulative Previous Year (CPLY), which was 23.32 MnT. Similarly, the cumulative sales have surged to 27.78 MnT, showcasing a remarkable growth of 23.55% compared to the same period in the previous year.
Shri Amitava Mukherjee, CMD (Additional Charge), expressed his views on NMDC’s exceptional performance, stating, “NMDC’s consistent month-to-month achievements signal a future where the company takes the lead in transforming the mining sector. We are not only targeting a significant increase in volumes but also preparing for a paradigm shift in our business approach, aiming to surpass a quarter of the domestic market share by 2030, up from our current 1/6th share.”
NMDC’s outstanding performance in November 2023 underscores its commitment to excellence and sets the stage for a transformative journey in the mining industry. As the company continues to break records, it solidifies its position as a key player driving positive change in the sector.
