There is no iron ore export program to China. to increase iron ore production to meet domestic demand; The National Mineral Development Corporation (MDC) said that there is no need for any export projects to China.
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| Iron ore export, |
PSU NMTC has said it will increase iron ore production to meet the growing demand from the domestic steel industry.
The country's iron ore demand is at an all-time high; NMTC also said that the company is committed to meet the demand of domestic steel producers.
Despite rising iron ore export prices, net sales in the domestic market have been good, the company said.
While it was reported that NMDC was planning to export iron ore to China, the company denied that there was any such plan.
Operating under the Ministry of Iron and Steel, the company is the country's largest iron ore producer.
It meets 20 percent of domestic iron ore demand. The company has set a target to produce 10 crore tonnes of iron ore by 2030.