Shri Amitava Mukherjee, CMD
TFP Bureau, Hyderabad; April 3,2024: NMDC, India’s leading iron ore producer, has etched its name in history by becoming the first mining company in the nation to surpass the remarkable milestone of 45 million tonnes in iron ore production. The company’s remarkable achievement was unveiled as it announced the delivery of unprecedented volumes in FY24, producing 45.1 million tonnes and selling 44.8 million tonnes of iron ore in the fiscal year that concluded this Sunday.
Asserting its dominance as India’s Navratna, NMDC showcased a remarkable 10% growth in production and a commendable 16% growth in sales compared to the volumes recorded in FY23. The stellar performance of NMDC, the industry leader, in achieving its best-ever yearly physical performance, instills confidence in the future of India’s iron and steel economy.
During the fourth quarter of FY24, the state-run mining giant recorded production of 13.31 million tonnes and sales of 12.54 million tonnes, with March 2024 witnessing production of 4.86 million tonnes and sales of 3.96 million tonnes.
Leading up to this monumental achievement, NMDC’s flagship iron ore mines – Kirandul and Bacheli in Chhattisgarh, and Donimalai in Karnataka – delivered their highest-ever annual production in the company’s history. Resolving bottlenecks in pellet production, the company achieved a peak volume of 2.65 lakh tonnes in pellet production.
Exhibiting strategic agility in capacity building, NMDC surpassed expectations in CAPEX, with an expenditure of Rs. 2,014 crores against the target of Rs. 1,769 crores in FY24, marking a significant increase of 14%.
Further embellishing its achievements, the company obtained necessary permissions from the Honourable Supreme Court and the Ministry of Environment, Forest and Climate Change (MoEFCC), facilitating the resumption of mining operations at its Diamond Mining Project in Panna, Madhya Pradesh during FY24.
Expressing his elation on the stellar performance of FY24, Shri Amitava Mukherjee, CMD (Additional Charge), commended his team, stating, “Crossing the 45 MT milestone has truly honored and enriched the legacy of NMDC. We have navigated the rigors of the industry, fortified our financial resilience, and tirelessly worked to achieve this goal. Looking ahead, NMDC’s trajectory is aimed towards innovation, sustainability, shared purpose, and a future built on a foundation of 100 million tonnes.”
