Maharashtra clears 937 hectares for Gadchiroli steel expansion Steel stock surges 29% in just two days Steel output rises 14% to 9.25 MT Infrastructure boom fuels India’s steel consumption
The state-owned NMDC stated that iron-ore production decreased by over 1% in April, while sales grew by nearly 3%. The company said in a filing on the provisional data for April that production was 3.48 million tonnes (MT) and sales were 3.53 MT.
NMDC, India's largest iron ore producer, has been reporting year-on-year output declines since February. Sales and production both decreased in March. For the fiscal year that ended in March, it recorded 16% greater sales at 44.48 MT and a 10% increase in output to a record 45.1 MT.
Amitava Mukherjee, CMD, spoke on the occasion and expressed confidence in NMDC's ability to meet the country's need for iron and steel. He said, “We are targeting north of 10% growth in our volumes in FY25 attuned to India’s iron ore output and demand growth trajectory. All our mining complexes have delivered a promising start and are geared to harmonize with the new mining technologies, navigate sectoral challenges, and achieve 50 MT.”
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