Indian government-run iron ore miner NMDC Limited has appointed strategic consultants, McKinsey & Company and Deloitte to study the market and prepare a marketing policy focusing on different classes of customers and tweaking offerings based on specific needs, NMDC chairman and acting managing director Amitava Mukherjee told investors on Tuesday, November 21.
The consultants have been given five to six months to complete the report and prepare a marketing policy addressing customers’ needs over the next five to six years, he said.
“The report prepared by the consultants will give us clarity on what kind of investments we need to make to cater to customers’ requirements, rather than offer vanilla products to all in the market,” Mr. Mukherjee said.
He added that customization as per customers’ requirements will improve margins from iron ore sales and that NMDC will take two more years to reach an annual production of 52 million mt, from around 42 million mt at present.