Cogencis, Monday, Jun 1

HYDERABAD - Public sector mineral producer NMDC Ltd's iron ore sales for May have fallen 23% on year to 2.6 mln tn, a source told Cogencis.

The company's iron ore output for the month is down 24.6% on a year-on-year basis at 2.3 mln tn.

The iron ore major's sales and output have been mainly hit by disruptions due to COVID-19, the source said.

On a cumulative basis, NMDC's Apr-May sales were down 34% on year at 3.9 mln tn, and output was 31% lower on year at 4.0 mln tn, according to the source.

Despite relaxations, the source said, mining activity at the company's sites is operational at around 70% of its production capacity due to shortage of labour and logistical issues.

At 1455 IST, shares of NMDC were at 84.45 rupees on National Stock Exchange, up 4.07% from the previous close.  End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Reported by Narayana Krishna

Edited by Charumathi Sankaran