New Delhi: NMDC, a state-owned enterprise, announced on Wednesday a reduction in the prices of iron ore lump and fines by Rs 550 and Rs 500 per tonne, respectively, effective immediately. The new price for lump ore is set at Rs 5,550 per tonne, while fines will now cost Rs 4,750 per tonne, according to a regulatory filing by the largest iron ore producer in the country. Lump ores, which are high-grade, contain 65.5 percent iron, whereas fines are of lower quality, containing 64 percent or less iron. Previously, on August 1, NMDC had set the lump ore price at Rs 6,100 per tonne and fines at Rs 5,250 per tonne.
The revised prices, effective from October 22, include royalty, district mineral fund (DMF), and National Mineral Exploration Trust (DMET), but exclude cess, forest permit fee, transit fee, GST, environmental cess, and other taxes.