India’s largest merchant and govt-owned iron ore miner, NMDC has announced a second price hike for Apr’21, SteelMint learned from credible sources. The price of DR CLO (Fe 67%) has been increased by INR 1,280/t, Baila lump by INR 1,100/t and that of fines by INR 500/t. The miner’s total iron ore production for FY’21 was recorded at 34.11 mn t, up 8% y-o-y. The recently announced changes in MMDR Amendment Act, 2021 for charging additional amount on grant/extension of mining leases granted after 2015, has resulted in iron ore price hike.
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