Chairman and Managing Director (CMD) of NMDC Ltd, Narendra Kothari has stated that hot trials of the company’s steel plant coming up at Nagarnar in Dantewada district of Bastar in Chhattisgarh would commence by December 2016.He provided details of the performance of the country’s largest iron ore producer and exporter to Union Minister for Steel & Mines Narendra Singh Tomar during the latter’s visit to the Head Office of NMDC Limited in Hyderabad.
Senior officials of Union Ministry of Steel and NMDC Ltd were present during the review meeting.Tomar stated in the meeting that the Nagarnar Steel Plant, Kumarswamy Mechanised Mines, Deposit 11-b and pellet plant projects must be put on fast track to be completed in time.While reviewing the performance of the company, Tomar said, "NMDC, is one of the largest miners in India and it must focus on increasing iron ore production.
This will have the twin benefit of keeping prices in check and ensuring equitable supply of raw material to big and small producers.As a responsible PSU mining company, it is the responsibility of NMDC to ensure that there is no imbalance on these counts, he said.The Minister further said that sustained efforts must be made to correct the negative perception in the minds of public about Mining as an industry. The company also needs to bring more parity in its physical and financial performance, he said.
To achieve the target of producing 75 million tonnes per annum (MTPA) iron ore by 2019-20, there needs to be visible incremental increase in production in consecutive years.NMDC needs to have a strategic vision and plan for the same, Tomar said.The Minister advised NMDC to get a strategic plan prepared for long term vision.
He further said that delay in execution and commissioning of the ongoing projects needs to be curtailed at the earliest.Performance, in respect of financial parameters, like gross operating margin, PAT, per employee profit etc., has scope for improvement, Tomar stressed.NMDC Ltd is India’s single largest iron ore producer, presently producing about 30 million tonnes of iron ore from 3 fully mechanized mines viz., Bailadila Deposit-14/11C, Bailadila Deposit-5, 10/11A (Chhattisgarh State) and Donimalai Iron Ore Mines (Karnataka State).
Source: The Pioneer
- metaljunction »
- Metal News
Metal News & Events
METALJUNCTION PUBLICATIONS
Coal Insights (English) Monthly
![Steel Insights](/assets/images/news/coal-insights.jpg)
Coal Insights is a ready reckoner for anyone associated with coal. This publication is aimed at tracking everything related to coal in India.
India Coal Market Watch(English) Monthly
![Steel Insights](/assets/images/news/ICMW_Jan09.gif)
ICMW is a one-stop source for all news, data and research pertaining to coal demand, consumption, stocks, spot- and long-term prices with respect to the Indian Market.
India Steel Market Watch (English) Monthly
![Steel Insights](/assets/images/news/ISMW.gif)
ISMW is a brand new high-end steel market report, covering all aspects of the steel industry in India.
Steel Insights(English) Monthly
![Steel Insights](/assets/images/news/SteelInsights.jpg)
Steel Insights delves into various facets of the domestic and global steel industry such as market fundamentals, raw material price trends, price forecasts etc.