Indian NMDC resumes iron ore exports

The company intends to hold the first tender in mid-August, offering iron ore on FOB terms for shipment through any of the Indian ports.

Previously, NMDC supplied ore to Japan and South Korea under long-term contracts. But their action was terminated in 2021. After that, the company did not offer its products abroad.

It is possible that the resumption of external supplies is due to the growth in production. In the second quarter of 2023, NMDC produced 10.7 million tons of iron ore, up 20% year-on-year, while shipments to customers increased by 46% to 11.5 million tons. In June, the company received 3.48 million tons of iron ore, up 35% compared to the same month in 2022.

The company's mining facilities are located in the states of Chhattisgarh and Karnataka. In June, 2.29 million and 1.19 million tons of iron ore were produced there, respectively. At the same time, enterprises in the state of Chhattisgarh increased their productivity by 18% compared to last year, and in Karnataka - by 89%.