NMDC hikes lump ore prices

Our Bureau Hyderabad | Updated on April 01, 2011


India's largest iron ore producer National Mineral Development Corporation (NMDC) has increased the prices of its lump ore provisionally by 10 per cent for the April to June 2011 quarter.

“The fine ore prices are however left unchanged. These prices are provisional and will get adjusted as soon as the international iron ore prices are settled,” the company said in a statement here on Friday.

Consequent upon the increase in iron ore prices during 2010-11, the company is likely to achieve a record turnover in 1010-11 of more than 80 per cent over the previous year, it said.

It achieved a production of 25.19 million tonnes of iron ore last fiscal, about six per cent higher than the previous year's production. On the sales front, it achieved 26.33 million tonnes as against 24.09 million tones in 2009-10.

This was mostly on account of improved rake supply by the Railways as well as increase in offtake by domestic customers.

Published on April 01, 2011

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