Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
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.”
Also Read : JSL provides stainless steel for 'Made in India' goods waggons shipped to Mozambique JSW Defence ventures into defence sector with acquisition of Gecko Motors
Larsen and Toubro (L&T) declared bagging a major order gas pipeline project in the Middle East r...
Large Corporate 14-Mar-2024
$2.1B investment for European business support. $565M debt to convert into equity. Move to streaml...
Business 13-May-2025
Nvidia briefly outstripped Amazon.com Inc in market capitalisation, propelled by the fervour surroun...
Latin America 13-Feb-2024
MG Motor India and Hindustan Petroleum Corporation Ltd (HPCL) collaborated to expand EV charging inf...
Mid Corporate 29-May-2024
According to some sources, a government-appointed panel has proposed the establishment of India's fi...
Announcement 02-Apr-2024
POSCO is in talks to join Hyundai Steel’s $5.8 billion US steel plant venture. The move aims...
US 16-Apr-2025