LLOYDSME H1FY27: Iron Ore Production Surges 36% YoY to 10 Mn Tonnes
Lloyds Metals and Energy Limited reported its best H1FY27 operational performance. Iron ore production reached 10 million tonnes (up 36% YoY), and pellet production hit 3.8 million tonnes (up 372% YoY). DRI production grew 104% YoY to 343,064 tonnes. Copper output was 4,389 tonnes.
The substantial year-on-year growth in production volumes for core products like iron ore and pellets, along with the commissioning of new capacity, is a significant positive development for the company's revenue and market position.
The announcement details significant year-on-year production increases across key segments like iron ore, pellet, and DRI, indicating strong operational performance and growth.
Lloyds Metals and Energy Limited (LMEL) has announced its operational update for the first half of FY27 (H1FY27), reporting its best-ever operational performance. The company achieved its highest ever H1 production of iron ore at 10 million tonnes, marking a significant 36% year-on-year increase. This performance is a testament to the strong momentum in production, with a target to produce 26 million tonnes of iron ore in FY27. The company also holds 8.7 million tonnes of Banded Hematite Quartzite (BHQ) which will be processed upon commissioning of beneficiation plants.
Pellet production saw a substantial surge of 372% year-on-year, reaching 3.8 million tonnes in H1FY27. This achievement is attributed to the commissioning of the second 4 million tonnes per annum (mntpa) pellet plant, increasing the total annual capacity to 8 mntpa, and indicates 100% capacity utilization. Direct Reduced Iron (DRI) production also demonstrated robust growth, increasing by 104% year-on-year to 343,064 tonnes in H1FY27, with a capacity utilization exceeding 90% on a consistent basis. Copper production for H1FY27 stood at 4,389 tonnes, including residual production from the Chemaf plant.
LMEL is a leading integrated metal and mining company and the largest merchant iron ore miner in Maharashtra. The company operates one of India's largest single-location iron ore mines at Surjagarh, Gadchiroli district, with an expanded Environmental Clearance (EC) capacity of 55 million tonnes per annum (MTPA). LMEL also has a DRI manufacturing capacity of 700,000 TPA and has scaled up its pellet-making capacity to 8 MTPA. The company has also ventured into copper production through strategic investments in mining assets in the Democratic Republic of Congo (DRC).
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