The state-owned iron ore miner has steeply reduced prices of lump ore and fines, effective from 5 June 2022.
The prices of lump ore (65.53, 6-40mm) have been reduced by Rs 1,100 or 20% to Rs 4,400 per ton compared with Rs 5,500 per ton fixed on 25 May 2022.
The prices of iron ore fines (64%, -10 mm) have been slashed by Rs 1,100 or 24.94% to Rs 3,310 per ton from Rs 4,410 per ton set on 25 May 2022.
NMDC is India's single largest iron ore producer, presently producing about 35 million tonnes of iron ore from 3 fully mechanized mines, two located in Chhattisgarh and one in Karnataka. As of 31 March 2022, the Government of India held 60.79% stake in the firm.
The state-run firm reported a 36% fall in standalone net profit to Rs 1,815.05 crore in Q4 FY22 as against Rs 2,837.58 crore in Q4 FY21.
Shares of NMDC were up 0.16% to Rs 124.85 on the BSE.
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