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NMDC's FY'16 iron ore output comes in 38% below expectations

India's largest iron ore miner, National Mineral Development Corp. Ltd., or NMDC, has witnesseda decline in its production of the key steelmaking commodity for the 12 months toMarch 31.

Iron ore output dropped to 28.3 million tonnes in fiscal 2016from 30.4 million tonnesa year earlier.

Sales, according to the April 7 statement, amounted to about28.9 million tonnes, down from 30million tonnes in the 2015 financial year.

Chairman and Managing Director Narendra Kothari reportedly in the 2016 financial year, or advance 31% on the previous year.

However, the Chattisgarhmine only produced 16.6 million tonnes, while the Karnataka mine produced even lessat 11.7 million tonnes.

Production from the Chhattisgarh mine was in early January when workers wenton strike after a senior executive allegedly made an offensive comment against them.