India's state-owned iron ore producer National Mineral Development Corp. (NMDC) aims to increase output by ten percent in the fiscal year starting April 2008, thus boosting its production to 33 million mt per annum. However, NMDC currently does not plan to boost exports as it is giving priority to the rapidly soaring domestic demand.
Meanwhile, the company has reportedly submitted an expression of interest (EoI) for the acquisition of a stake in an iron ore mine in Canada.
According to NMDC's general manager Ashok Gupta, the mine has proven iron ore reserves of one billion mt.
As reported by SteelOrbis, NMDC chairman Shri Rana Som said early this week that transport bottlenecks and threats from Maoists had led to a shortfall in dispatch of iron ore, and added that the company would set up an investigation and exploration centre at Raipur to assist the government in mineral exploration activities.