NMDC iron ore production up 20% at 34 million tonnes

Sale and production of iron ore by NMDC Limited has gone up by 23 per cent and 20 per cent respectively in the year ending March 31, 2017. However, a similar growth in profitability is unlikely as the iron ore prices started firming only towards the second half of the financial year, according to the company sources.

The company has achieved a total production of 34.07 million tonnes of iron ore in 2016-17 as compared to 28.57 million tonnes in the previous year while the sales volumes stood at 35.62 million tonnes as compared to 28.83 million tonnes in 2015-16,