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NMDC iron ore production up 56% in Q2 FY 22

Navratna PSU surpassed its previous best Q2 performance in iron ore sales with 37% growth at 8.93 MT
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Navratna PSU surpassed its previous best Q2 performance in iron ore sales with 37% growth at 8.93 MT

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Hyderabad State-owned mineral producer NMDC Limited continues to outperform itself with 56 per cent increase in production of iron ore at 8.80 MT during July-September (Q2) of this financial year against the corresponding period last year (CPLY). The Navratna PSU surpassed its previous best Q2 performance in iron ore sales with 37 per cent growth at 8.93 MT in Q2 of FY22 over CPLY.

Particularly in the month of September, the mining major registered a growth of 47 per cent in production at 2.69 MT against CPLY. This is the highest ever in any September month since inception and a rise of 30 per cent in sales at 2.73 MT in the month of September over CPLY.

NMDC's cumulative production and sales figures up to September 2021 stood at 17.71 MT and 18.50 MT respectively, recording the best ever half yearly performance. The company achieved a 45 per cent increase in production and 43 per cent in sales over CPLY.

NMDC Chairman and Managing Director Sumit Deb, said: "Our focus to enhance mine capacity and strengthen logistical support has significantly improved our operational efficiency. With the best ever Q2 and half-yearly performance, the team has proven that NMDC is on a strong, stable footing to beat the challenges and absorb cyclical volatility."

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