August NMDC iron ore output, sales slide
Mining major NMDC reported iron ore production for August declined almost 10% year on year and sales by more than 11%. Production of the key raw material for steel stood at 3.07 million tonne compared to 3.41 MT in the year earlier period, while sales totalled 3.14 MT, the State-owned company said in a filing on the provisional numbers for August. For the five months ended August, iron ore output totalled 14.43 MT and sales 16.27 MT. ₹1,620.5 crore penalty Meanwhile, the District Administration of Dantewada, Chhattisgarh, has issued a showcause notice proposing to levy penalty and compensation of ₹1,620.5 crore on NMDC for alleged transport of iron ore without Railway Transit Pass in contravention of various provisions of different mining laws.
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