India's state-owned miner National Mineral Development Corporation (NMDC) has announced that in the first six months of the financial year 2015-16 (started April 1) it produced 12.37 million mt of iron ore, registering a decrease of 28.2 percent year on year. The company's iron ore sales in the given period amounted to 13.11 million mt, decreasing by 17.3 percent year on year.
During the first six months, NMDC's iron ore output from its Karnataka mines amounted to 5.45 million mt, up 24.4 percent, while the iron ore output from its Chhattisgarh mines decreased by 31.1 percent to 6.92 million mt, both year on year.
NMDC also announced that it incorporated a wholly-owned subsidiary company by the name Jharkhand Kolhan Steel Ltd in late September for the development of a steel plant in the state of Jharkhand.