Team News Riveting
Hyderabad, July 1
State-run mining major National Mineral Development Corporation (NMDC) Limited has slashed the prices of both lump ore and fines by Rs 500 per tonne.
In a regulatory filing, the company said it had fixed the rate of lump ore at Rs 5950 per tonne. The price of fines for the same quantity has been fixed at Rs 5110, the company said, adding that the revised price came into effect from June 30, 2024.
The above FOR prices are inclusive of Royalty, DMF, NMET and exclusive of Cess, Forest Permit Fee, Transit Fee, GST, Environment Cess and other taxes.
In the last revision that came into effect from May 28, 2024, NMDC Limited had fixed the price of lump ore at Rs 6450 per tonne and that of fines at Rs 5610 per tonne.
The company has delivered unprecedented volumes by producing 45.02 million tonnes (MT) and selling 44.48 MT of iron ore in the last financial year. Realizing a 10 per cent growth in production and 16 per cent growth in sales compared to FY23 volumes, NMDC is now the first mining company in India to cross the 45 MT milestone in iron ore production.
