Minister of Steel and Mines Narendra Singh Tomar reviews performance of NMDC

Narendra Singh Tomar
Narendra Singh Tomar
‘NMDC must focus on increasing iron ore production for keeping prices in check and equitable supply of raw material to big and small producers’ says Shri Tomar The Union Steel & Mines Minister Shri Narendra Singh Tomar visited the Head Office of National Mineral Development Corporation, NMDC Limited in Hyderabad yesterday and met officers and employees of the company and reviewed its performance in a meeting.
While reviewing the performance of NMDC, Shri Tomar said, “NMDC, one of the largest miners in India must focus on increasing iron ore production. This will have the twin benefit of keeping prices in check and ensuring equitable supply of raw material to big and small producers. As a responsible PSU mining company, it is the responsibility of NMDC to ensure that there is no imbalance on these counts.” The Union Minister of Steel & Mines further added that sustained efforts must be made to correct the negative perception in the minds of public about Mining as an industry. The company also needs to bring more parity in its physical and financial performance, he said. To achieve the target of producing 75 million tonnes per annum (MTPA) iron ore by 2019-20, there needs to be visible incremental increase in production in consecutive years. NMDC needs to have a strategic vision and plan for the same. The Minister advised NMDC to get a strategic plan prepared for long term vision. He further said that delay in execution and commissioning of the ongoing projects needs to be curtailed at the earliest. Nagarnar Steel Plant, Kumarswamy Mechanised Mines, Deposit 11-b and pellet plant projects must be put on fast track to be completed in time. Performance in respect of financial parameters like gross operating margin, PAT, per employee profit etc. has scope for improvement, Shri Tomar stressed.

Earlier CMD, NMDC Shri N Kothari welcomed the Steel and Mines Minister, this being the first visit of Union Steel Minister to NMDC Head office in last few decades. He apprised the Minister on progress on SPV front in Jharkhand, MOU for which is likely to be signed next month. Shri Kothari assured the Minister that hot trials of the Nagarnar Steel Plant would commence by December, 2016. Senior officials of Ministry of Steel and NMDC were present during the review meeting.

NMDC is India’s single largest iron ore producer, presently producing about 30 million tonnes of iron ore from 3 fully mechanized mines viz., Bailadila Deposit-14/11C, Bailadila Deposit-5, 10/11A (Chhattisgarh State) and Donimalai Iron Ore Mines (Karnataka State).