India Steel Market Watch
November 4: NMDC, the single largest producer of iron ore in India, announced that it plans to increase its mining capacity to 75 million tons per annum (mtpa) by 2018-19 and 100 mtpa by 2011-22 from the current production level of 30.4 million tons (mt), according to its ‘Vision 2025’ statement, as per the information available with ISMW.
Narendra Kothari, Chairman-cum-Managing Director, NMDC, said, “Vision 2025 seeks to reorient its business model and strategise effectively to retain its market leadership in the domestic market and also make a mark on the global mining sense to ensure raw material security for the Indian industry.”
The company’s policy framework was released during the mid-year review of its annual business plan.