Monthly Update1 Jan 2025, 07:11 pm
Lloyds Metals & Energy Reports Highest Ever Nine Months Iron Ore Production, 22% YoY Growth in DRI
AI Summary
Lloyds Metals & Energy Limited has reported its highest-ever nine months ended iron ore production, achieving an impressive 8.6 million tonnes, marking a 5 % year-on-year (YoY) increase. The company's Direct Reduced Iron (DRI) production also reached 238k tonnes, reflecting a 22% YoY growth. The DRI production has been witnessing strong traction, with December registering as the best production ever. The DRI units are running at near full capacity utilisation rates.
Key Highlights
- Highest ever nine months ended iron ore production at 8.6 million tonnes
- 22% YoY growth in Direct Reduced Iron (DRI) production
- DRI units running at near full capacity utilisation rates
- Strong traction in DRI production with best production in December
- Company is the largest merchant iron ore miner in Maharashtra, India