NMDC is aiming to achieve 47 million tonne of iron ore production during FY22 and plans to spend Rs 3,720 crore on capital expenditure.
The iron and steel industry will see opportunities from rapid developments through digitalisation and automation, infrastructure initiatives, reorganisation of urban centres and energy transformation.
It will also begin mining coal from the two blocks it has been allotted by Q4/FY22.
During Q1/FY22, NMDC achieved production of 8.91 million tonne and sales of 9.45 million tonne respectively, its best Q1 since inception.
The total revenue from operations stood at Rs 6,512 crore while profit after tax was at Rs 3,193 crore in Q1/FY22, also the best ever.