NMDC targets 75 mt iron ore production by 2018-19 REGULATORY AFFAIRS
HYDERABAD. NMDC has its task cut out. It faces a tough challenge ahead, with the Government revising its production targets and deadlines to 75 million tonnes by 2018-19 and 100 million tonnes by 2022. Having added just about five million tonnes of new production in the last five years to reach the current capacity of 34 million tonnes, the PSU under the Ministry of Steel indeed faces a daunting task. It will have to go all out to open up new mines to meet the target.
NMDC’s chairman and managing director Narendra Kothari feels that the targets are achievable. “We have the resources and the money to support the expansion plans,” he told Business Line in an exclusive interview.
India is estimated to have iron ore reserves of about 2,150 million tonnes, out of which Bailadila, where NMDC has its mines, accounts for almost 1,850 million tonnes.
The company is coming out with a detailed corporate and investment plan-Vision 2025 next month which will chalk out the roadmap to achieve the 75 million tonne target by 2019.Business Line .
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Categories : REGULATORY AFFAIRS