India’s largest iron ore producer and exporter, National Mineral Development Corporation (NMDC), has announced a price cut of INR 500-600 (USD 5.83-7) per ton, according to a stock exchange filing.
Following the revision, lump ore with 65.5pct iron content (10-40 mm) is now priced at INR 5,700 (USD 66.50) per ton, while fines with 64pct iron content (up to 10 mm) are set at INR 4,850 (USD 56.46) per ton.
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
