India's NMDC aims to produce 100 mln t iron ore by FY30
The targeted 300 million t/y of steel capacity entails about 430 million tonnes of iron ore, which means NMDC's 100 million tonnes would account for a quarter of the domestic iron ore market share by then, the miner said.
To achieve the ambitious target, NMDC mainly focuses on expanding the brownfield of existing mines and improving the evacuation infrastructure. It has embarked on multiple projects with RS 2,200 crore to build slurry pipelines, new processing plants and intermediate stockpiles to fully tap into its iron ore resources in a more efficient way, Mysteel Global learned.
NMDC produced a record 45 million tonnes of iron ore in FY24 and has set phased plans to attain the ultimate goal of reaching 100 million t/y of iron ore capacity by FY30. It targets a 10%-plus growth in its iron ore output in FY25, or 50 million tonnes, before lifting the capacity further to around 67 million t/y by FY26.
Nonetheless, the company's iron ore output in the first five months of FY25 was lower by 13% than that in the same period in FY24, its latest financial results showed.
Written by Irene Zhuang, zhuangailing@mysteel.com
Edited by Alyssa Ren, rentingting@mysteel.com
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