NMDC crossed 40 MT production level in FY23: Steel Minister Scindia

State-owned NMDC has crossed 40 million tonnes (MT) production level in financial year (FY) 2022-23, Union Steel Minister Jyotiraditya Scindia said on Thursday.

The minister termed the production level achieved by NMDC as 'a record-breaking' development.

"NMDC has achieved a record-breaking production for the period up to July 2023 and has already crossed 40 MT of annual production last year (FY23)," the minister said while unveiling the new logo of NMDC at his office in the national capital.

NMDC CMD Amitava Mukherjee said the company will continue to increase its production year over year to achieve the production of 100 MT by 2030.

"NMDC's cumulative production climbed by 20 per cent and sales by 45 per cent in the first quarter of FY24," the CMD said.

Based in Hyderabad, NMDC, under the Ministry of Steel, is the country's largest iron ore mining company contributing up to 20 per cent to India's total iron ore production.

Iron ore is the key raw material used for producing steel.