National Mineral Development Corporation Limited (NMDC) is a public sector undertaking (PSU) controlled by the Ministry of Steel. It is India’s largest iron ore producer and exporter has its operational mines in the states of Chhattisgarh and Karnataka.
NMDC Sales 2013
The sales of iron ore of NMDC for the quarter ended June 30, 2013, is 7.26 million tonnes which has grown by 5.83% from the sales of the same period last year, which was 6.86 million tonnes, according to company officials.
In a statement to stock exchange, NMDC has said that the production of iron ore from its Chhattisgarh owned mines have fallen by 1.69% to 4.66 million tonnes, which was 4.74 million tonnes in the same period last year. Whereas the sales has grown up by 2.65% in the quarter ended June 30,2013, to 5.03 million tonnes, which was 4.90 million tonnes in the same period last year. On the other hand its production in Karnataka mines have grown up by 4.83% by producing 2.17 Million tonnes of iron ore which was 2.07 million tonnes in the same period last year. Also the sales in the Karnataka mines have increased by 13.88% from 1.96 million tonnes last year to 2.23 Million tonnes this year.
However the overall production total for NMDC has seen a growth of 0.29% which stood at 6.83 million tonnes this year from the last year of 6.81 million tonnes production. The trade for company’s shares thus in BSE were trading at the rate of Rs 99.85 per share, which went down by 3.29% by the closing hours.
NMDC has also cut its iron ore prices by Rs 100-200 per tonne for July delivery.