Team News Riveting
Raipur, June 6
National Mineral Development Corporation (NMDC) has slashed iron ore prices by Rs 1100 for a tonne.
In a regulatory filing, country’s largest iron ore company said it had fixed the prices of per tonne lump ore at Rs 4400 and that of fines at Rs 3310 a tonne. The prices exclude royalty, District Mineral Fund (DMF), National Mineral Exploration Trust (DMET), cess, forest permit fee, and other taxes.
The price would come into effect from June 5, 2022, the company said.
Hardly 10 days ago, the state-run miner had slashed iron ore prices by Rs 600 for a tonne of lump and by Rs 750 for the same quantity of fines. In the prices revision that came into effect from May 25, the company had fixed the prices of per tonne lump ore at Rs 5,500 and that of fines at Rs 4,410 a tonne.
Continuing on the growth trajectory, NMDC produced 3.2 Million Tonnes (MnT) and sold 2.65 MnT in the second month of financial year 2022-23 (FY23) ended May 31, 2022.
Iron ore production in May 2022 was 14.3 per cent higher than the 2.8 MnT produced in May 2021. NMDC’s cumulative production upto May 2022 stood at 6.35 MnT, a 7.4 per cent growth from the cumulative production of 5.91 MnT upto May 2021.
