Indian government-run miner NMDC Limited expects to achieve iron ore production of 55.40 million mt in the fiscal year 2025-26, which would be almost 100 percent of the volumes permitted under the environmental clearance granted for its mining operations, the company said in a statement while releasing its financial performance for the fiscal year 2024-25 on Thursday, May 29.
In the fiscal year 2024-25, NMDC Limited achieved an iron ore output of 44 million mt, a decline of two percent from the previous fiscal year.
It has targeted pellet production of 2.53 million mt in 2025-26 focussing on shifting to the production of higher grade pellets with Fe content of 66-67 percent to improve margins and profitability.
The company said that talks are being held with government-run pellet producer KIOCL Limited on a conversion agreement for DRI-grade pellet production and that a collaboration agreement is expected soon.
The company also said that it has planned capital expenditure of INR 35 billion ($409 million), of which INR 22 billion ($257 million) would be invested in its core mining operations, while the balance would be invested in its steelmaking subsidiary, NMDC Steel Limited (NSL), it said.