An impressive increase in sales (16 per cent) and production of iron ore (10 per cent) was witnessed during 2023-24 as compared to the last financial year What efforts went into achieving these figures?
The volumes delivered by NMDC in FY24 were indeed impressive. The production of 45.1 MT and sales of 44.4 MT, made NMIC the first iron ore mining company in India to surpass the 45 million tonne milestone! With strategic agility towards capacity building, we outperformed the capex target for FY24 with an expenditure of ₹2,014 crore, up by 14 per cent of the target.
Strategic investment in manpower, machine, and material led to streamlined projects and enhanced operations. In FY24, a new vertical"Works OrganisationN was also introduced in the company line for timely execution and monitoring of projects: Some achievements of building dedicated responsibility centres in the company were commencement of operations from the Kumar Marenga stockyard, implementation of an all inclusive pricing mechanism, and development of digital business intelligence.
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