NMDC Q1 iron ore production up by 7pct
2011-07-28 09:16:17 [Print]
State run iron ore miner NMDC said its production had risen by about 7% to 6.1 million tonne during the April to June quarter riding on the back of improved logistics and better weather conditions. The company had produced 5.7 million tonne of iron ore in the corresponding quarter of 2010-11.
Mr Rana Som CMD of NMDC said that "At this time last year, the seasonal rains had played a dampener but this year we produced more as rains did not impact our operations that much.”
Mr Som said that during the quarter, sales of iron ore rose by about 12% at 6.95 million tonne vis a vis 6.2 million tonne in the first quarter of last year.
Mr Som said that "Sales volumes exceeded production during the quarter due to unsold inventory and increased availability of railway wagons.”
Talking about the outlook for the current quarter, the NMDC chairman said that both, production and sales of iron ore will be exceeding the targets. He added that "In July, our production has been 2 million tonne of iron ore, while sales of the raw material has been reported at 2.3 million tonne. So we have already exceeded the targets for the month.”
Mr Rana Som CMD of NMDC said that "At this time last year, the seasonal rains had played a dampener but this year we produced more as rains did not impact our operations that much.”
Mr Som said that during the quarter, sales of iron ore rose by about 12% at 6.95 million tonne vis a vis 6.2 million tonne in the first quarter of last year.
Mr Som said that "Sales volumes exceeded production during the quarter due to unsold inventory and increased availability of railway wagons.”
Talking about the outlook for the current quarter, the NMDC chairman said that both, production and sales of iron ore will be exceeding the targets. He added that "In July, our production has been 2 million tonne of iron ore, while sales of the raw material has been reported at 2.3 million tonne. So we have already exceeded the targets for the month.”
