KOLKATA | Dec 06, 2016: NMDC Ltd, one of the country’s largest state-owned mining companies, has reported iron ore sales of 22.59 million tonne till November 30, 2016. This is higher by nearly 27% compared to its sales of 17.72 million tonne up to November 2015. While Chhattisgarh accounted for bulk of its sales with 13.98 million tonne till November 2016, sales from Karnataka amounted to 8.61 million tonne during the period, the company said in a notification to BSE on Tuesday.

NMDC also said production from its mines was at 20.09 million tonne upto November 2016 up 14.8% compared to 17.5 million tonne in the period up to November 2015 last year. Out of the total output this year, NMDC produced 12.41 million tonne of iron ore up to November 2016 from its mines in Chhattisgarh while another 7.68 million tonne was contributed by its mines in Karnataka.

The PSU miner informed the BSE about its provisional production and sales figures up to November 2016 on Tuesday. Last week, in a regulatory filing NMDC had informed the BSE that ministry of steel had communicated the ‘in-principle’ decision of the Cabinet Committee on Economic Affairs (CCEA) to consider strategic disinvestment of the company’s Nagarnar Steel Plant. NMDC is setting up a three million tonne steel plant in Bastar, Chhattisgarh. The Rs 15,500 crore project was planned as part of the mining company’s move to enter the steel sector and is among the few greenfield steel plants to come up in the country in the last few years.

(Source: http://economictimes.indiatimes.com/)