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Informist, Monday, Dec. 2, 2024

 

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--Source: NMDC Apr-Nov iron ore sales flat YoY at 27.8 mln tn
--Source: NMDC Apr-Nov iron ore output down 4.5% YoY to 26 mln tn
--Source: NMDC Nov iron ore sales up 5.5% YoY at 4 mln tn
--Source: NMDC Nov iron ore output up 17.5% YoY at 4.5 mln tn

 

By Narayana Krishna

 

HYDERABAD – Public sector iron ore major NMDC Ltd. has achieved 5.5% on-year growth in its iron ore sales volumes at 4 million tonnes for November, a source told Informist. The company's production for November was up 17.5% on year at 4.5 million tonnes. Despite higher production, a shortage of railway rakes along with logistics issues limited its sales volumes growth last month, even though the company delivered one of its best-ever performances for November, the source added.

 

On a cumulative basis, NMDC's iron ore sales for Apr-Nov were flat on year at 27.8 million tonnes, while output declined 4.5% on year to 26 million tonnes, the source said. NMDC had set a sales target of 50 million tonnes for 2024-25 (Apr-Mar).

 

At 1202 IST, shares of NMDC traded at INR 230.88 on the National Stock Exchange, up 0.4% from its previous close.  End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Tanima Banerjee

 

 

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