KOLKATA: NMDCNSE 1.59 %, the country’s leading miner, is seeking to restore full production within a month to help offset the impact of a 40% output cut in the initial stages of the lockdown.
“We are looking to ramp up production to full capacity within a month,” Sumit Deb, director (personnel) NMDC, told ET. Deb is due to take over as the next chairman in August.
Although its biggest customer segment — the steel industry — has been running at less than half the capacity due to low demand from end users in auto, construction and infra, NMDC expects stocking of iron ore by steel companies in the forthcoming monsoon period.
With two consecutive price cuts in April and May, NMDC has reduced iron ore rates by ₹900 per tonne and those of calibrated lump ore by ₹1,050 per tonne within a month.
