NMDC increases iron ore prices by over 18% since August

2 hours ago 1

NMDC has announced different terms hike for its robust ore effectual from October 23, a notification said.

The terms of lump ore has accrued by 18.69 per cent since August this twelvemonth and by 10.43 per cent successful October unsocial to Rs 6,350 per tonne.

While fines person seen a 17.35 per cent hike since August and a astir 8 per cent emergence successful October to Rs 5,410 per tonne.

In October 1 terms revision saw lump ore priced astatine Rs 5,750 per tonne and fines astatine Rs 5,010 per tonne. The latest hike reflects an further summation of 10.4 per cent for lump ore and 7.99 per cent for fines wrong conscionable 3 weeks of the October 1 adjustment.

On August 7, this year, the terms for lump ore stood astatine Rs 5,350 per tonne and fines astatine Rs 4,610 per tonne.

The terms increases see royalties, territory mineral instauration (DMF) charges, and National Mineral Exploration Trust (NMET) fees, but exclude cess, wood licence fees, GST, and different taxes.

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