NMDC Exceeds 41 Million Tonnes of Iron Ore Production for Second Year Running

India’s preeminent ferrous ore purveyor, NMDC, generated a prodigious 41 million tonnes (MT) of iron ore in fiscal year 2022-23 (FY23), achieving this illustrious feat for two consecutive financial years. The State Miner’s fourth quarter yielded 14.29 MnT, while March’s output reached 5.6 MnT, culminating in a record-breaking Q4 and March month in the annals of the corporation.

In FY23, NMDC’s production of 41.22 million tonnes was accompanied by sales of 38.25 million tonnes of iron ore, notwithstanding an unprecedented deluge of 622 cm in the Bailadila region since the company’s genesis. The fourth quarter’s 14.29 MnT production represented a zenith for any quarter since the firm’s establishment.

ALSO READ :  A theory about the current IPO market – NewsNifty

Undeterred by the monsoon, NMDC attained this prodigious milestone through the utilization of vision augmentation technology to counteract foggy conditions, bespoke mine liners to circumvent obstructions, and hygroscopic polymers to diminish ore moisture content. Aspiring to amplify production capability, the mining titan bolstered its evacuation capacity in FY23.

Reflecting on the robust performance, Amitava Mukherjee (CMD, Additional Charge) remarked, “Eclipsing 41 MnT of iron ore production in the face of unparalleled torrential rain epitomizes NMDC’s fortitude, adaptability, and unwavering dedication to ensuring mineral security. Propelled by an unrivaled Q4 production in FY23, NMDC embarks on FY24 with the optimal momentum.”

ALSO READ :  FDA grants emergency use authorization for Pfizer’s COVID-19 vaccine, distribution to begin within days – NewsNifty
You May Also Like

CDS Bipin Rawat Passes Away | Chopper Crashes In Coonoor, Tamil Nadu

The IAF has said that General Bipin Rawat, his wife, and 11…

Singapore-based caregiving startup Homage raises $30M Series C – NewsNifty

Homage, the providing care centered startup, has raised a $30 million Series…

US Treasury wants cryptocurrency transfers of over $10,000 to be reported to the IRS

During a social occasion yesterday the U.S. Safe Department proclaimed strangely that…

JetBrains presses go on its Space project management platform for developers – NewsNifty

With Slack being gained by Salesforce for $28 billion, the universe of…