NMDC's monthly sales also saw a notable decrease, falling by 22 per cent to 2.82 MT in May 2024, compared to 3.62 MT in May 2023
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The investments will focus on mine enhancement, acquiring new mines, deeper drilling permissions, addition of equipment, setting up slurry pipelines, and expanding other allied facilities
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The pricing update coincides with NMDC's financial performance report for the March quarter of FY24
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According to the update, NMDC's iron ore sales surged to 3.53 megatonne (MT) in April 2024, marking an increase from the same period last year. However, the total iron ore production saw a slight decline, dropping to 3.48 MT from 3.51 MT year-on-year
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