India: NMDC Iron Ore Production Up 23% Y-o-Y in Q1 FY20
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NMDC iron ore production for the quarter witnessed at 8.46 MnT, up by 23% Y-o-Y, SteelMint learned from sources. However production is down by 20% as against 10.6 MnT in Q4 FY19.
NMDC iron ore production was impacted amid tribal agitation caused at Kirandul and Bacheli facility. As per orders by Honarable CM of Chhattisgarh, mining was halted at Kirandul on 7th June and at Bacheli on 11th June. However, the operations resumed on 13th June'19. Also, NMDC's Donimalai iron ore mines in Karnataka continue to remain suspended since Nov'18 amid reserved Judgement by High Court.
NMDC iron ore sales up 28% Y-o-Y in Q1 FY20
NMDC iron ore sales marked increase of 28% to 8.73 MnT against Q1 FY19. However marked 15% fall as against 10.25 MnT in Q4 FY19.
| NMDC | Production | Sales | ||||
| Q1FY20 | FY'19 | FY'18 | Q1FY20 | FY'19 | FY'18 | |
| Total | 8.46 | 32.47 | 35.58 | 8.73 | 32.39 | 36.07 |
Qty in MnT
Source: SteelMint Research & Company Reports
