Tag: NMDC

Business World

December performance helps NMDC end the year on a good note

Jan 1, 2021 by Neel Achary 0 Comments #CMD, #NMDC, #Shri Sumit Deb

Hyderabad: NMDC, the country’s largest Iron Ore producer, and a Navratna Company, continued the impressive performance run in the month of December 2020 also. This is the 5th month in 2020, when production and sales showed an uptick when compared to the CPLY.

Iron ore production for the month of December 2020 is 3.86 MT (Million Tonnes) against the production level of 3.13 MT in December 2019, thereby registering a growth of 23.3%.

Iron ore production in Q3 of FY20 is 9.61 MT against the production of 8.56 MT in Q3 of FY19, thereby registering a growth of 12.3% (CPLY).

Iron ore sales for the month of December 2020 is 3.62 MT against the sales level of 3.04 MT in December 2019, thereby registering a growth of 19.1%.

Iron ore sales in Q3 of FY20 is 9.44 MT against the sales in Q3 of FY19 is 8.44, thereby registering a growth of 11.8% (CPLY).

NMDC is steadily improving its performance every month and continues to enhance the production level month on month. The performance of the last few months and December showcases production and sales will exceed last year’s performance, despite the adverse circumstances of 2020. The performance proves NMDC’s ability to battle any challenge and maintain its leadership position in the industry.

Shri Sumit Deb, CMD, NMDC commented “The steady growth in performance has helped us end the year on a good note. We are on our way to better the cumulative figures both physical and financial parameters of the previous year. Indian steel industry revival needs support to tide over the crisis and we are doing our best to cater to it. Team NMDC has always kept the nation’s interest in mind, and we hope to continue this excellent performance in the new year.”

Business World

Long Pending issue of Donimalai Iron ore Mine has been finally resolved

Dec 5, 2020 by Neel Achary 0 Comments #NMDC

Hyderabad: The long pending issue of Donimalai Iron ore mine (ML No.2396) of NMDC Ltd, which was suspended since November 2018, has finally concluded through the endeavor of the Government. The decision has not only paved way for operationalization of the mine but also is a timely decision taken in a situation when the steel companies are facing a shortage of supply of Iron ore.

Exercising the power conferred to GOI under section 31 of the MMDR Act, 1957, the Government of India reached at an agreement with Government of Karnataka and Ministry of Steel to extend Donimalai Iron ore lease.

Donimalai Iron ore mine, which has total concession area of 597.54 Ha and estimated resource of 149 MT shall increase the annual Iron ore production in the country by 7 MTPA. Based on the existing high price of ore, it is expected that Donimalai Iron ore mine will contribute around INR 400 crore to the State Exchequer, during the ongoing financial year.

The operationalization of the mine would contribute a total of around INR 1100 crore to the State exchequer per annum. It will also take the nation a step closer towards the vision of the Government to achieve 300 MTPA crude steel capacity by 2030-31. The mine shall offer direct Employment to thousands of people (including the contract labours) and create indirect employment opportunity for lakhs of people.

The operationalization of the mine shall bring a sense of security for more than two dozen SMEs (with 100s of employees) near Donimalai area that were directly or indirectly dependent on NMDC for supply of raw material. Further, the Local community dependent on NMDC CSR activities will not be deprived of benefits, like Hospital, Free Transport, RO water facilities etc.

Business World

November performance helps NMDC grow from strength to strength

Dec 3, 2020 by Neel Achary 0 Comments #CMD, #Iron Ore producing Navratna Company, #NMDC, #Shri Sumit Deb

Hyderabad: NMDC, the country’s largest Iron Ore producing Navratna Company, continued to better the operational performance during the month of November 2020 in production and sales over the CPLY.

Iron ore production for the month of November 2020 is 3.32 MT (Million Tonnes) has registered a growth of 13%, despite restrictions and unfavorable weather conditions against the production of 2.94 MT in November 2019.

Iron ore sales for the month of November 2020 improved to 3.30 MT has registered a growth of 18 % against the 2.79 MT in sales that NMDC achieved in the corresponding month of November 2019.

Production and sales are on an uptick and showing healthy growth each month. This is gradually catching up to the level of 2019’s production and sales.

NMDC is continually maintaining strong performance indicators for the last few months and is expected to reach last year’s production levels in the next few months. NMDC is determined to continue this growth streak. The production is also being continuously scaled up to compensate for the earlier loss. The industry has started responding to the positive sentiments of the economy and demand is expected to go up in the next FY. NMDC is confident to cater to the needs of both national and international customers.

Shri Sumit Deb, CMD, NMDC expressed satisfaction with the performance of NMDC and said “The company’s monthly performance has transcended November 2019’s production and sales and we will soon catch up with the cumulative figure of the previous year. I am hopeful that the performance will improve further on the back of better demand and gradual improvement in ground conditions. I would like to congratulate team NMDC for this outstanding performance; it is their hard work and determination that is paying off.”

Business World

NMDC bestowed with the National HR Best Practice Award by NIPM

Nov 27, 2020 by Gouri Achary 0 Comments #National HR Best Practice Award, #NIPM, #NMDC, #Shri Sumit Deb

NMDC, the country’s largest Iron ore mining company has been honoured with ‘National HR BEST Practices Award 2019’ by the National Institute of Personnel Management (NIPM). The Gold category award recognises the best-in-class workplace practices that affect enterprise-wide success in using Human Resource as a strategic business tool for enhanced results. NMDC was recognised for its unique and constructive Human Resource Practices. NMDC has been accorded this special recognition for its industry-leading and progressive HR practices.

The NIPM National HR Best Practice Award is instituted to recognise the HR perceptions and aspirations across several industries. The award offers an insight into how industries in large sectors can align their employer brands to aspirations and thoughts of their workforce. The purpose of the award is to recognize an organization that has been able to align successful HR programs and policies with the company’s business objectives. NMDC Limited has been successful in creating an ecosystem which empowers employees to enhance their skill sets and demonstrates the importance of HR practices for strategic success.

Commented on the award Shri Sumit Deb, CMD, NMDC said, “We believe that our people are our most important assets. NMDC is always working towards implementing internationally recognised best practices to ensure employee and organizational growth is aligned. We are immensely pleased to receive the ‘National HR Best Practice Award’ for the modern outlook & futuristic mindset. This recognition of being one of the best HR practitioners in India is a culmination of the efforts of the HR team and I congratulate them for winning this award.”

For NMDC, the core ethos has always been engaging with its employees and stakeholders with proactive and positive HR policies. The award is a testimony to its contemporary HR policies and strives to build a work environment that focuses on creating an engaged, diversified, productive and healthy workforce through employee-friendly initiatives.