Page 2 - Nmdc

NMDC iron ore production rises 17.8% to 4.62 mn tonnes in February

State-owned NMDC on Saturday said that it has registered a 17.8 per cent increase in iron ore production at 4.62 million tonnes (MT) in February. The company had produced 3.92 MT of iron ore in the corresponding month of previous fiscal year, NMDC said in a filing to BSE. The company said that the figures are provisional. The iron ore production in the April-February period rose to 40.49 MT over 40.24 MT in the year-ago period, the filing said. The sale of iron ore in February was at 3.98 MT, over 3.99 MT in February last fiscal. Hyderabad-based NMDC, under Ministry of Steel, is the country's largest iron ore mining company. The PSU alone caters around 20 per cent to the country's demand for the key steel-making raw material. Since inception, the company has been involved in the exploration of a wide range of minerals including copper, rock phosphate, limestone, magnesite, diamond, tungsten and beach sands amongst others in some of the most remote corners of the country.

UAE-based NMDC Group PJSC to invest Rs 21,000 cr for Vadhvan Port Project

Under the MoU, NMDC Group PJSC will invest in developing the offshore land of Vadhvan coast, involving dredging, reclamation, and shore protection

Will ensure MCD areas become as clean, beautiful as NDMC zones: LG Saxena

Delhiites have chosen a new leadership for change, and this transformation will positively impact both the city and its people, Lieutenant Governor Vinai Kumar Saxena said on Friday. Speaking at the 'Samvaad with Swachhta Sainiks' event here, he said while some areas, particularly those under the New Delhi Municipal Council (NDMC), are well-maintained, others require significant improvement. We will ensure that MCD areas also become as clean and beautiful as NDMC zones, he said. The LG highlighted that keeping Delhi is primarily the responsibility of the Municipal Corporation of Delhi (MCD), which has a workforce of 50,000 sanitation workers. Saxena praised sanitation workers for their efforts during the COVID-19 pandemic, the Yamuna floods, and the G20 beautification drive. He also urged citizens to also play an active role. When we see potholes and garbage in the capital, it raises concerns about whether we are truly representing the country's capital, he added.

Moderate valuations offer support for NMDC despite market headwinds

Iron ore production stood at 13.3 mn tonnes (up 9 per cent Y-o-Y and 61 per cent Q-o-Q), while sales stood at 11.9 mn tonnes (up 5 per cent Y-o-Y and 20 per cent Q-o-Q) during the quarter under review

NMDC Q3 results: Net profit grows 29% to Rs 1,897 cr; production rises 9%

State-owned NMDC on Thursday reported a 29 per cent rise in consolidated net profit to Rs 1,896.66 crore in the October-December quarter of 2024-25, mainly driven by higher income. It had reported a profit of Rs 1,492.73 crore in the October-December period of 2023-24. Total income rose by 21 per cent to Rs 6,942.92 crore in the third quarter of FY25 compared to Rs 5,746.47 crore in the year-ago period, the company said in an exchange filing. Total production in the quarter rose by 9 per cent to 13.29 million tonnes (MT) over 12.22 MT in the same quarter last year. Sales rose by 5 per cent to 11.94 MT in the December quarter from 11.39 MT in Q3FY24. NMDC CMD Amitava Mukherjee said, "We have entered the fourth quarter of FY25 on a strong momentum. Despite challenges faced this financial year, NMDC's results remain positive on a sequential basis, strengthening a growth trajectory." For the April-December period, the company's profit rose to Rs 5,055.64 crore, up 22 per cent from Rs

Chhattisgarh to grab bigger piece of NMDC's Rs 70,000 cr capex pie

NMDC unveiled the plan at a vendor meet in Hyderabad on Tuesday. The company aims to bolster its production capacity to 100 million tonnes per annum

NMDC to extract diamonds worth $3.4 mn from mine near tiger reserve in MP

NMDC, which has not yet started new rounds of mining, is focusing on extracting and processing diamonds from ore stockpiles at its Panna mine

Govt considering KIOCL-NMDC merger, says Steel Minister Kumaraswamy

The government is considering merging pellet maker KIOCL with iron ore major NMDC. Union Steel Minister HD Kumaraswamy said that KIOCL is in critical condition. "The process is on to consider merging KIOCL and NMDC. KIOCL has also reported losses," he said on the sidelines of a press meet here to announce a revival package of Rs 11,440 crore for Rashtriya Ispat Nigam Ltd (RINL). The minister said the situation has occurred due to non-cooperation of the state (Karnataka) government. KIOCL Ltd, under the Ministry of Steel, operates a 3.5 million tonne per annum (MTPA) iron-oxide pellet plant and a blast furnace unit to manufacture 2.16 lakh tonne per annum pig iron at Mangaluru, Karnataka. NMDC is also an entity operating under the Steel Ministry. It caters to India's 20 per cent of iron ore demand.

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Steel ministry proposes merger between state-run KIOCL, NMDC: Report

Mining company NMDC aims to export iron ore pellets from KIOCL post the merger

NMDC share price slips 7% in 6 days; trades ex-date for 1:2 bonus issue

NMDC bonus shares: The deemed date of allotment shall be Monday, December 30, 2024

Karnataka's iron ore duty plans weigh on NMDC; share price plunges 7%

The decline in NMDC share followed reports suggesting that the Karnataka government is considering an increase in the duty on iron ore

Nifty Metal slips 3% intraday; SAIL, NMDC down over 4%, Tata Steel over 2%

Shares of Hindalco, Jindal Steel and Power, Vedanta, Welspun Corp, National Aluminium Company (Nalco), Hindustan Zinc, APL Apollo Tubes declined over 1 per cent

NMDC Limited institutes trained over 3,000 youth in Chhattisgarh

The country's largest iron ore producer has helped more than 2,100 students secure jobs

Volume growth for NMDC to remain robust in H2 with environmental clearances

Steady increase in domestic demand, a strong balance sheet and moderate valuations are all positives

NMDC Steel Q2 results: Loss widens to Rs 595 cr, income at Rs 1,535.46 cr

NMDC Steel on Tuesday said its loss had widened to Rs 595.37 crore in September quarter, on account of a surge in expenses. It had posted a loss of Rs 131.10 crore in the year-ago period, the company said in an exchange filing. The company's total income increased to Rs 1,535.46 crore from Rs 290.27 crore a year earlier. However, NMDC Steel's expenses rose to Rs 2,364.39 crore in the second quarter of the ongoing fiscal year from Rs 464.93 crore a year ago. NMDC Steel Ltd, an entity demerged and formed from mining firm NMDC, owns and operates the 3 million-tonne Nagar Steel Plant at Nagarnar in Chhattisgarh. Nagarnar plant is referred to as India's youngest steel unit set up with an investment of about Rs 23,000 crore. NMDC Steel started commercial operations at the unit from August 31, 2023.

NMDC Q2 results: Net profit grows 17% to Rs 1,196 cr, total income up 22%

State-owned miner NMDC on Monday reported a 16.66 per cent rise in consolidated net profit to Rs 1,195.63 crore for the September 2024 quarter, helped by higher income. It had posted Rs 1,024.86 crore profit in the July-September period of 2023-24, the company said in an exchange filing. The company's total income surged 22 per cent to Rs 5,279.68 crore from Rs 4,335.02 crore in the year-ago quarter. The board has also approved the issuance of bonus shares in the ratio of 2:1. It further approved an increase in authorised share capital from Rs 400 crore to Rs 1,000 crore. NMDC, under the Ministry of Steel, is India's largest iron ore mining entity catering to around 20 per cent of the country's demand for the key steel-making raw material.

NMDC Group achieves net profit of AED 2.2 bn in first 9 months of 2024

The strong performance for the nine-month period ending September 30 2024 was underpinned by a healthy project pipeline

NMDC-KIOCL merger on cards, awaits clearances from ministries, regulators

NMDC continues to meet the country's iron ore demands, achieving a turnover of Rs 21,294 crore in financial year 2023-24

JSW Steel, ACC, NMDC among 31 bidders in 10th commercial coal mine auction

JSW Steel, JSW Energy, ACC Ltd, NMDC Ltd, NTPC Mining Ltd and Jindal Steel and Power Ltd (JSPL) are among the 31 companies which have submitted bids for the tenth round of commercial coal mine auction. "A total of 31 companies have submitted their bids in the auction process," the coal ministry said in a statement. More than 10 new companies have participated for the first time under commercial coal mine auction. A total of 67 coal blocks were put up for sale in June under the tenth round of commercial mines auction. The government has received 44 bids for the 67 coal mines, the statement said. "The bids will be evaluated by a multi-disciplinary technical evaluation committee and technically qualified bidders will be shortlisted for participation in the electronic auction, to be conducted on MSTC portal," it added.