Team News Riveting
Hyderabad, January 2
The National Mineral Development Corporation (NMDC) has increased iron prices by Rs 200 per tonne for lump ore and by Rs 250 for the same quantity of fines.
The mining major informed in a regulatory filing today that it had increased the price of lump ore to Rs 5,600 per tonne and fines Rs 4,910per tonne. The price, which are inclusive of Royalty, DMF, NMET and exclusive of Cess, Forest Permit Fee, Transit Fee, GST, Environmental Cess, Infrastructure, will come into effect from today, the company said.
In the last price revision that came into effect from November 23, 2023, country’s largest iron ore producer and exporter had fixed the price of lump ore at Rs 5,400 per tonne and fines at Rs 4,660 per tonne.
The Navratna mining giant has registered a record performance in the third quarter of the fiscal (Q3 FY24) ended December 31, 2023. The company delivered its best ever third quarter volumes and produced 12.22 MT and sold 11.42 MT of iron ore in Q3 FY24. Compared to the third quarter of FY23, there is a 15 per cent rise in production and 19 per cent rise in sales figures.
NMDC produced 4.48 million tonnes and sold 4.19 million tonnes (MT) of iron ore in the month of December 2023. Recording a growth of 24 per cent in production and 26 per cent in sales over December 2022, the company achieved its best ever December month production and sales since inception.
