Steel Ministry directs NMDC to aim for annual production of 75 million tonnes iron ore by 2018-19

Steel Ministry proposes to increase iron ore availability in the country

The Union Minister of Steel and Mines Narendra Singh Tomar has directed National Mineral Development Corporation (NMDC) to enhance production incrementally and aim for annual production of 75 million tonnes iron ore by 2018-19 and 100 million tonnes by 2020-21, to increase iron ore availability in the country.

The target was assigned in a review meeting with NMDC officials held in New Delhi today. Secretary, Ministry of Steel Rakesh Singh and other senior officers were present during the meeting. After due deliberations, it was decided that NMDC will increase production every year to reach the target of 75-100 million tones. It was also decided to incorporate this target in the MOU that the company signs with the government.

Steel Minister underscored the fact that raw material availability at reasonable prices is essential for economic development of the country. He directed NMDC to use all resources in its command, to achieve this ambitious target and remarked that this achievement will be the most important criterion while assessing the performance of the company.

NMDC is a leading PSU under the Ministry of Steel that produces iron ore. In 2013-14, iron ore production by NMDC was 30 million tonnes.

This is an important decision, which will definitely enhance availability of iron ore in the country and as a result steel industry will have access to iron ore at reasonable prices.

Annual production of steel in the country is planned to be increased to a level of 300 million tonnes by 2025. That will necessitate production of 500 million tonnes of iron ore annually. To meet country's requirement of iron ore, it is essential that NMDC enhances its iron ore production substantially, through all possible means.

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