Govt directs NMDC to hike iron ore production

To increase iron ore availability in the country, Narendra Singh Tomar, Union Minister of Steel and Mines, 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. In 2013-14, iron ore production by NMDC was 30 million tonnes.
 
The target was assigned in a review meeting with NMDC officials held in New Delhi on December 16, 2014. Rakesh Singh (Secretary, Ministry of Steel) 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 tonnes. It was also decided to incorporate this target in the MoU that the company signs with the government.
 
Tomar 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.
 
The increased production is expected to enhance availability of iron ore at reasonable prices for the steel industry in the country.
 
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, added the Steel Ministry press release.