Team News Riveting
Hyderabad, July 18
National Mineral Development Corporation (NMDC) Limited has slashed the iron ore prices by Rs 200 for a tonne of lump and fines.
The country’s largest iron ore miner said it had fixed the prices of lump ore at Rs 4950 per tonne and iron ore fines at Rs 4210 per tonne. The prices include royalty, District Mineral Fund (DMF), National Mineral Exploration Trust (DMET), cess, forest permit fee, and other taxes.
The price is learnt to be more industry friendly, addressing the issue of royalty on royalty. Earlier, the price were excluding of royalty, District Mineral Fund (DMF), National Mineral Exploration Trust (DMET), cess, forest permit fee, and other taxes.
The revised prices had come into effect from July 18, 2023, the NMDC Limited said in a regulatory filing today. The NMDC Limited has been slashing the prices of iron ore from the month of April, 2023. In April, the company has cut the price of iron ore lump by Rs 300 a tonne and that of iron ore lump by Rs 100 a tonne.
Compared to April revision, the company reduced the price of lump by Rs 300 a tonne and fines by Rs 450 a tonne. In the last revision that came into effect from May 29, 2023, the company had fixed the prices of lump ore at Rs 3900 per tonne and iron ore fines at Rs 3560 per tonne.
