GENERAL20 Sept 2026
NMDC looks to hit 60 MT iron ore production mark this fiscal: Chairman
NMDC, India's largest iron ore producer, plans to hit 60 million tonnes (MT) this financial year, about 20 per cent more than the 50 MT it crossed in FY2026. It aims for 100 MT by 2030-31, matching the National Steel Policy target of 300 MT steel capacity. Steelmakers should see steadier raw material supply. NMDC works under the Ministry of Steel.
Key Statutory Highlights
- NMDC crossed the 50 MT iron ore production milestone in FY2026 and now plans to reach 60 MTPA this fiscal, including output from its NMDC-CMDC Limited joint venture.
- The company aims to scale production to 100 MT by 2030-31, in line with the National Steel Policy 2017 target of 300 MT installed steelmaking capacity.
- In FY26, NMDC's total revenues rose 33 per cent to an all-time high of Rs 31,554 crore, and it alone meets 20 per cent of India's iron ore needs.
Actionable Advice for Taxpayers / Founders:If your business buys steel or iron ore, watch NMDC's monthly output and clearance updates before you lock supply contracts or pricing. Treat any cost or availability change as a possibility, not a certainty, and confirm the impact with your CA or supplier.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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