NMDC ore prices to remain at Rs 3,050 per tonne



Source: PTI

The country’s top iron ore producer NMDC said the prices of its lump ore and fines will continue to be at Rs 3,050 a tonne and Rs 2,660 a tonne, respectively, for about a month.

The state-run PSU had raised the prices of lump ore by Rs 150 to Rs 3,050 per tonne on May 23.

The rate of fines was also hiked by Rs 100 to Rs 2,660 per tonne.

On April 18, the state-run firm had fixed the rate of lump ore at Rs 2,900 per tonne and of fines at Rs 2,560 per tonne.

The new rates are with retrospective effect from June 22, 2018, NMDC said in a BSE filing.

The current prices exclude royalty, DMF (District Mineral Fund), NMET (National Mineral Exploration Trust), cess, forest permit fee and other taxes, it said.

Iron ore is a key raw material for making steel. NMDC produces about 30 million tonne of iron ore from three fully mechanised mines.

The company is involved in the exploration of wide range of minerals including iron ore, copper, rock phosphate, limestone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, beach sands etc.

Source: PTI