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Shri Ram Vilas Paswan, Minister for Steel, Chemicals and Fertilizers has commended the National Mineral Development Corporation (NMDC) for exceeding their production target in iron ore and diamonds by 11 per cent and 18 per cent respectively in comparison to their production last year during the first half.. The Minister was reviewing the half yearly performance of NMDC for the financial year 2004-05 here today. Shri Manoranjan, Secretary (Steel) and Senior Officials of the Ministry of Steel were also present at the meeting.
Shri Paswan congratulated the Company Management for exceeding their excellent MOU target of 8.48 million tonne of iron ore by .13 million tonnes for the present half year. He, however, asked the Company Management to look into the techno-economic parameters and ensure that the cost of the production is kept at the minimum by avoiding wastage and adopting improved methods of production.
CMD, NMDC, informed the Minister that against the world production of 1120 million tonnes of iron ore in 2003-04, India produced 120 million tonnes of iron ore, which is 10.7 per cent of global production. Out of this NMDC produced 20 million tonnes of iron ore in 2003-04 , which is 17.5 per cent of the Indian production and 1.8 per cent of global production.
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