Navratna PSU National Mineral Development Corporation Ltd (NMDC) has announced that its Board of Directors will meet on March 17, 2025, to consider an interim dividend for the financial year 2024-25.

In line with SEBI’s insider trading regulations, the company has imposed a trading window closure for insiders, designated persons, and their immediate relatives from March 7 to March 19, 2025.

Ahead of the announcement, shares of NMDC closed at ₹67.07, up 0.19% on Friday on the BSE.

Meanwhile, NMDC has confirmed the appointment of Amitava Mukherjee as Chairman and Managing Director (CMD), effective March 6, 2025. Mukherjee, who has been with NMDC since November 2018 as Director (Finance), had been holding additional charge as CMD since March 2023.

His tenure will run until February 29, 2028, or until further orders. He also serves as Chairman of NMDC Steel and Legacy Iron Ore.

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In its latest operational update, NMDC reported a 17.85% YoY increase in iron ore production to 4.62 million tonnes (MT) in February 2025, compared to 3.92 MT in February 2024. However, iron ore sales were slightly lower at 3.98 MT, down from 3.99 MT in the same month last year.

Chhattisgarh operations saw a slight dip, with production down 1.17% YoY to 3.37 MT, while sales rose marginally to 2.79 MT from 2.78 MT. Karnataka operations recorded a massive 145.09% YoY surge in production to 1.25 MT, though sales fell 1.65% YoY to 1.19 MT.

Cumulative production for FY25 (up to February) stood at 40.49 MT, up 0.62% YoY, while sales declined slightly by 0.69% YoY to 40.20 MT.

As India’s single-largest iron ore producer, NMDC operates three fully mechanised mines, two in Chhattisgarh and one in Karnataka, with an annual production of about 35 MT. As of December 2024, the Government of India held a 60.79% stake in the company.