NMDC plans to increase iron ore output by more than 21% this fiscal

State-owned miner NMDC plans to produce 50 million tonnes of iron ore in the current financial year. The target implies growth of more than 21% from the 41. 22 million tonnes of iron ore produced by the company in fiscal 2022-23.

NMDC aims to increase the output to 60 million tonnes by FY27.

NMDC’s output in the March quarter, at 14. 29 million tonnes, was its highest for a quarter. For FY24, the company expects output to be uniform across quarters, except for in the September quarter when production is likely to be impacted by monsoon rains.

The country’s largest iron ore producer is also looking at exploring lithium reserves in Australia, at a mine where it holds a majority stake.