NMDC rose nearly 3% as Dec iron-ore production rises 5% YoY

The shares of NMDC Limited saw a 2.89% rise to ₹67.89 per share on Thursday after the company reported a 5.1% year-on-year increase in its iron ore production during December 2024.

The iron ore production rose to reach 4.71 million tonnes (MT) in December 2024 as against the production of 4.48 million tonnes (MT) in the corresponding month of the previous year. Despite this, the company’s iron ore sales have come down by 6.7% to 3.91 million tonnes in December 2024 versus 4.19 million tonnes in December 2023.

Region-wise, the iron ore production in the Chhattisgarh division witnessed a 4% annual increment against a 12.2% drop in sales. However, the Karnataka division saw a 7.9% yearly rise in iron ore production along with an 8.3% increase in sales volume.

The cumulative iron ore production for the calendar year of 2024, up to December, was 30.77 million tonnes, indicating a 3.2% reduction year-on-year. Furthermore, sales volume for the same duration was 31.80 million tonnes, showcasing a slight 0.4% decline from 2023.

NMDC is the country’s largest iron ore producer, currently producing about 35 million tonnes of iron ore from 3 fully mechanized mines, two located in Chhattisgarh and one in Karnataka.

At close on Thursday, the shares of NMDC Limited were trading 2.59% higher at ₹67.69 per share versus the previous close of ₹65.98 per share on the National Stock Exchange (NSE).