NMDC Plans Rs. 70,000 Cr. CapEx by 2030 to Augment Iron Ore Production
National Mineral Development Corporation (NMDC) Limited announced that the company will be investing Rs. 70,000 crore to augment its Iron ore production by 2030.
NMDC will increase Iron ore production to 100 Million Metric Tonnes Per Annum (MMTPA) from the current 45 MMTPA. The aforementioned CapEx will be in Iron ore evacuation infrastructure. Commenting on the company’s plans, Mr. Amitava Mukherjee, CMD of NMDC said, “We encourage our partners to begin preparations early, secure the necessary financial backing, build their resource base, and deliver top-notch quality within the stipulated timelines”.
India is the fourth largest producer of Iron ore in the world with 274 Million Metric Tonne (MMT) production as of FY-24. As per a January 2025 report by Statista, India’s annual Iron ore demand is expected to grow to 366 Metric Tonnes (MT) by 2030 from 228 MT in 2023. Therefore, NMDC’s investment will help to cater to the increasing demand for Iron ore in India.
The company recently announced its Q3 FY-25 results. NMDC’s revenue jumped by 21.4% YoY to Rs. 6,568 crore during Q3 of FY-25. The company’s Q3 FY-25 PAT was recorded as Rs. 1,896.7 crore.
