Team News Riveting
Hyderabad, August 8
State-run mining major National Mineral Development Corporation (NMDC) Limited has slashed the prices of iron ore for the second consecutive month for August.
In a regulatory filing on Thursday, the company said it had fixed the rate of lump ore at Rs 5350 per tonne. The price of fines for the same quantity has been fixed at Rs 4610, the company said, adding that the revised price came into effect from August 7, 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.
While the lump ore price came down by Rs 600 per tonne, the price of per tonne fines has been cut by Rs 500. In the last revision that came into effect from June 30, 2024, NMDC had fixed the rate of lump ore at Rs 5950 per tonne and that of fines for the same quantity at Rs 5110.
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.
