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NMDC produced 27 mn t iron ore in FY13

NMDC produced 27 mn t iron ore in FY13
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NMDC produced 27 million tonne (mn t) of iron ore in 2012-13 and supplied 24.67 mn t of the raw material during the year.

It produced 27.3 mn t and supplied 26.91 mn t of iron ore to domestic industries during the year 2011-12, which is around 16 percent of the countryÂ’s total production of iron ore of 167.28 million tonne (provisional). Government of India said this in a press release.

This is around 23 percent of the total estimated consumption of about 116.3 mn t of iron ore by the domestic iron and steel industry.

Besides NMDC, there are many other public and private sector iron ore mining companies, which supply iron ore to the iron and steel industry in the country.

Iron ore, being in deregulated sector, its supply is secured by the individual companies based on their individual requirement. However, to improve availability of iron ore to domestic iron and steel industry, government has taken fiscal measures to discourage export of iron ore by increasing the export duty on iron ore to 30 percent ad valorem on all grades of iron ore (except pellets).

NMDC is also taking steps to increase production of iron ore by opening up new iron ore mines and expanding the capacity of existing iron ore mines, the release said.

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