Indian government-run iron ore miner NMDC Limited has set a production target of 50 million mt for the fiscal year 2023-24, company sources have said citing a forecast made to investors on Thursday, February 16.
For the April-December period of the fiscal year 2022-23, NMDC reported an iron ore output of 26.7 million mt.
The company stated that its 2 million mt per year capacity iron ore pellet plant under construction at Nagarnar in Chhattisgarh state is scheduled for commissioning at the end of 2024, while another pellet plant had been planned for construction at the southern port town of Vishakhapatnam, but a detailed project report is yet to be prepared.
NMDC is also exploring opportunities of exporting low grade iron ore fines (Fe content less than 58 per cent) considering the rising demand in China, the sources said.
