NMDC Ltd, India’s largest domestic iron ore producer, is set to achieve around 45 million tonnes (mt) of ore production in FY24, with a projected increase to 50 mt in FY25 and 55 mt by FY26. The company aims to enhance its product mix and capacity to 100 mt by FY30 through various capex projects. Despite a 6% year-on-year decrease in Q4FY24 production, NMDC’s quarterly volume numbers showed a 9% quarter-on-quarter increase, reaching 13.3 mt. This growth trajectory is bolstered by ongoing capex initiatives despite challenges in Karnataka’s production and offtake.
NMDC Forecasts Growth in Iron Ore Production and Capex Plans
![](https://affairsace-media.s3.ap-south-1.amazonaws.com/2024/04/11075817/1522438269-6384-ezgif.com-avif-to-jpg-converter.jpg)