India’s largest iron ore miner – National Mineral Development Corporation (NMDC) has decreased by INR 200/MT in both lumps and fines floor prices for upcoming Karnataka e-auctions today (i.e 27th Aug 2019).
NMDC fines (Fe 63%) base price from Kumaraswamy mines at INR 2,589/MT (basic).The prices for Fe 63.8% lump prices at INR 3,079/MT (basic). All prices mentioned are basic, royalty and other taxes extra.
Last month NMDC had rolled over iron ore fines and lumps prices.
Southern India (Bellary) based pellet makers have kept offers for pellet at INR 6,200-6,300/MT this week. Trades remained on the lower side in the Bellary region.
Central Govt. mines tribunal has put a stay until the next date of hearing to the order dated 17 Aug to cancel the lease renewal order of NMDC’s Donimalai mines and further put the expired mine lease block on an auction for sale. Earlier in the month of July’19 Karnataka High Court announced its final judgment in favor of NMDC, thus need not pay premium for mining lease renewal at its Donimalai mines. Iron ore operations are on hold at NMDC’s Donimalai mine, which was renewed lease on 3rd Nov’18 for the next 20 years.
NMDC (C.G.) last week lowered Iron ore prices by INR 200/MT in both lumps and fines and INR 230/MT in DRCLO.
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