India’s leading iron ore producer and exporter, National Mineral Development Corporation (NMDC), has announced a price reduction of INR 140-150 (USD 1.63-1.75) per ton, according to a filing with the stock exchange.
The revised prices are now set at INR 6,300 (USD 73.5) per ton for lump ore with 65.5pct iron content (10-40 mm) and INR 5,350 (USD 62.4) per ton for fines with 64pct iron content (10 mm).
The above prices include royalty, DMF (District Mineral Foundation), and NMET (National Mineral Exploration Trust), but exclude cess, forest permit fees, transit charges, GST, environmental levies, and other applicable taxes.
With operations spanning three fully mechanized mines, two in Chhattisgarh and one in Karnataka, NMDC collectively produces approximately 35 mln tons of iron ore, cementing its status as a key player in India’s iron ore sector.
1 USD / 85.6 INR