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Iron ore major NMDC Ltd has managed to produce 28.32 million tonnes of ore and registered total sales of 28.87 m.t. during 2015-2016, which was lower when compared to previous year.
The mining major produced 16.60 m.t. and sold 16.40 m.t. in Chhattisgarh and in Karnataka mines it produced 11.72 m.t. and sold 12.47 m.t., according to a statement filed with the BSE.
Given the tough times the steel makers and iron ore miners are faced with both globally and in India, the production and sales numbers have been impacted.
NMDC had produced 30.02 m.t. in 2013-14 and a record 30.44 m.t. during 2014-15.
The mining company had been planning to increase the production to 35 m.t. and to 100 m.t. by 2024-2025.
While the company had closed previous financial year 2014-15 with a record output of 30.44 m.t. and a turnover of Rs 12,356 crore and a profit of Rs 6,422 crore, the turnover this year is likely to be lower due to drop in ore prices during 2015-16.
NMDC closed the day at Rs 101.95, marginally up (0.39 per cent) at BSE on Thursday.
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