NMDC can be the first company to get lithium to India

National Mineral Development Corporation, India’s largest iron ore producer, has transitioned itself into a much stronger entity in the recent times with a busy order book, robust results and a dream run on the stock markets.

- RAHUL DEVULAPALLI

Amitava Mukherjee, NMDC’s chairman, is not only looking to diversify its portfolio by mining other minerals from overseas mines but also working towards supplying lithium in India. He shares NMDC’s vision, policies and strategy in an interview. Excerpts:

Q \ What are NMDC’s growth targets?

A \ This financial year, our guidance has been around 47 million metric tonnes to 49 million metric tonnes (iron ore production). Now with the delay in getting the approvals for the Kumaraswamy iron ore mine in Karnataka, realistically it would be lower. We were targeting 50. But there was also a delay in the commissioning of our fifth line in Bacheli. We were expecting it to be commissioned in August. In the next financial year, we should be able to do 53 million metric tonnes.

Q \ Between April and November 2023, your production of iron ore went up by 17 per cent.

A \ Two or three factors led to it. A major reason was the planning by our team. Second, we have made huge investments in machineries. Last year we bought 11 dumpers. We have a five-year equipment replacement policy. We are taking advance action by two years now, so anything that has to be replaced in 2026 will be ordered now because of the cycle time. In the earlier process, we would have placed the order only in 2026. Also, one of our major mines that was doing only two shifts is doing three now with the additional usage of dumpers.