NMDC posts 7 per cent growth in iron ore production in 2011-12

NMDC has reported a 7 per cent growth in iron ore production during the financial year 2011-12, despite regulatory concerns and the closure of several mines by the Supreme Court. During the year NMDC's iron ore production reached 27.26 million tonnes compared to 25.16 million tonnes during previous financial year.

N.K. Nanda, CMD (in-charge) of NMDC reveled this while briefing the minister for steel, Beni Prasad Verma, about the performance of the company during the year 2011-12.

He said NMDC has awarded all the major packages for the proposed 3 MTPA integrated steel plant in Nagarnar within a short span of time and the work for blast furnace, raw material handling system and coke oven plants has started.

The company is taking care of development activities around the steel plant in areas of basic and professional education, health and infrastructure for local people, he said.

Stressing on the importance of R&D, the company is developing process flow sheet for upgrading low grade iron ores such as BHJ from 41.5 per cent Fe to 64 per cent Fe, through setting up of a beneficiation plant at Donimalai, Karnataka. Besides, the company has also embarked upon expansion and diversification plans in India and abroad.

NMDC, meanwhile, has acquired a 50 per cent stake in Legacy Iron Ore Limited of Australia, which will give the company access to three iron ore and one gold deposit at exploration stage.