NMDC Targets 60 Million Tonnes of Iron Ore Output

The company has already crossed the 50 million-tonne mark in FY2026 and says it is now pushing toward 60 million tonnes from its existing mines, with help from assets held through its NMDC-CMDC joint venture. On a year-on-year basis, that would be about a 20% increase, a meaningful gain in a business where scale often determines margins and bargaining power.

That production push comes alongside stronger financial momentum. NMDC reported a 33% jump in revenue in FY26 to a record 31,554 crore rupees, underscoring how higher volumes and a supportive commodity backdrop can quickly flow through to the top line. The broader iron ore market has been choppy, with demand from steel mills still sensitive to high coke prices and maintenance outages, but producers with reliable output and low costs tend to be the ones that outperform over a cycle.

The company is also trying to reduce its dependence on iron ore alone. It plans to begin commercial thermal coal production in the October-December period, target sales of about 1 million tonnes in FY27, and start developing a coking coal mine within the next fiscal year, with production potentially as early as FY28. By 2030, management wants at least 20% of revenue to come from minerals other than iron ore. That matters because diversification can soften the earnings swings that come with commodity price cycles.

There is a strategic angle here for India as well. More domestic ore output lowers the risk that steel expansion runs into raw-material bottlenecks, especially if global supply gets tighter or trade tensions intensify. For a country trying to climb further up the industrial value chain, secure feedstock is not a small detail — it is the foundation.

For long-term investors, NMDC’s investment case still rests on whether it can keep turning reserves into sustained volumes, win environmental approvals, and execute on new mineral projects without sacrificing returns. If it does, the company could remain a quiet but powerful beneficiary of India’s infrastructure and manufacturing push. For now, the 60 million-tonne target is worth watching closely.