Posted on 13 Jul 2021
NMDC reduced its domestic iron ore prices by INR 200/tonne ($2.68/t) amid a fall in steel prices and a decline in bids at Odisha mining corporation’s auction, Kallanish notes.
The state-owned miner pegged its 65.5% Fe, 6-40mm lump ore and 64% Fe up to 10mm fines prices at INR 7,450/t and INR 6,360/t respectively.
“The above prices are excluding royalty, district mineral fund (DMF), national mineral exploration trust (DMET), cess, forest permit fee, and other taxes,” says NMDC.
The company’s sales soared 28% on-year in June to 3.18 million tonnes, while production rose 18% to 2.98mt.
NMDC, under the ministry of steel, is India's single largest iron ore producer, producing 35mt iron ore annually from its three fully mechanized mines located in Chhattisgarh and Karnataka.
Additionally, the company is also involved in the exploration of other minerals like copper, rock phosphate, limestone, dolomite and gypsum.
Source:Kallanish
