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National Mineral Development Corporation Limited (NMDC), on Saturday, became the first company in India to cross 40 million tonnes (MT) of Iron Ore Production in a year, according to a release by the Ministry of Steel on Saturday.NMDC, the country's largest Iron Ore producer, a CPSE under the Ministry of Steel, has set a target of becoming a 100 MTPA company by 2030."From a production of 4 MTPA in the late 1960s to 40 million tonnes now, the growth trajectory of the largest iron ore producer of the country has been exceptional. Starting from 4 million tonnes in 1969-70, NMDC crossed 10 million tonnes in 1977-78, added another ten million by 2004-05, crossed 30 million tonnes within a decade and has now breached the 40 million mark,"Keeping pace with the constant surge in the domestic iron ore demand, the company has been rolling out ambitious expansion plans and Capex outlay in pursuit of enhanced production.The NDMC had adopted cutting-edge technology to overcome the Coronavirus pandemic-induced slowdowns in the sector."In recent times, NMDC has adopted cutting-edge technology and built a transformational digital infrastructure to overcome Covid induced slowdowns and the cyclical volatilities in the sector. Growing from scale to strength, the company has achieved the milestone of 40 million tonnes Iron ore production on the back of steady fundamentals and a visionary workforce," read the release.Sumit Deb, the Chairman and Managing Director of NMDC, congratulated the team by saying, "NMDC's ground-breaking achievement of becoming the first iron ore mining company in India to cross 40 MT is an illustrious display of its ability to accept challenges despite all odds. The company's perseverance and consistency has paid off and I congratulate the team for this historic accomplishment.""I am confident that we will continue to cross many more milestones on our way to fulfil the Nation's vision of #AtmanirbharBharat. This achievement also shows that we are on the track to become a 100 MTPA company by 2030," Deb added.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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National mineral development corporation limited, Latest News

Business :NMDC's production rises 23 per cent to 42.15 MT in FY22

National Mineral Development Corporation Limited (NMDC), the country's largest iron ore producer, said on Saturday its production increased by 23 per cent year-on-year to reach 42.15 million tonnes (MT) in the financial year ended March 31, 2022. ...

National :NMDC creates history with its exceptional growth in Iron Ore Production

National Mineral Development Corporation Limited (NMDC), on Saturday, became the first company in India to cross 40 million tonnes (MT) of Iron Ore Production in a year, according to a release by the Ministry of Steel on Saturday. ...