Team News Riveting
Mumbai, April 1
The country’s largest iron ore miner, National Mineral Development Corporation (NMDC), on Friday hiked the prices of lump ore and fines by Rs 100 a tonne each with immediate effect.
In a regulatory filing, the company said it has fixed the prices of per tonne lump ore at Rs 6,100 and that of fines at Rs 5,160 a tonne. The prices exclude royalty, District Mineral Fund (DMF), National Mineral Exploration Trust (DMET), cess, forest permit fee, and other taxes.
The revised prices would come into effect from April 1, the company said.
NMDC had announced its last price revision on March 8, when it fixed the prices of lump ore and fines at Rs 6,000 a tonne and Rs 5,960 per tonne, respectively.
Last month, mining major NMDC has become the first company in the country to cross 40 million tonnes (MT) iron ore production in a year.
From a production of 4 MTPA in the late 1960s to 40 million tonnes now, the growth trajectory of the largest iron ore producer of the country has been exceptional. Starting from 4 million tonnes in 1969 70, NMDC crossed 10 million tonnes in 1977-78, added another 10million by 2004-05, crossed 30 million tonnes within a decade and has now surpassed the 40 million mark.
