Business

NMDC posts higher output, sales in July

Mining major NMDC has posted a 12.9% rise in iron ore production and 6.63% higher sales in July compared to the same period last from a year earlier. Total production was 2.19 million tonne (1.94 MT) with mines in Chhattisgarh contributing 1.56 MT (1.16 MT). In Karnataka, output was lower at 0.63 MT (0.78 MT), a pattern in production also reflected in sales. Of the total 2.57 MT (2.41 MT) sales, Chhattisgarh’s share was 1.9 MT (1.6 MT), while sales in Karnataka’s was 0.67 MT (0.81 MT).

Cumulatively till July, this fiscal, production was 15.46% lower at 8.80 MT (10.41 MT), while sales declined 19.38% to 8.98 MT (11.14 MT), NMDC said in a filing on Monday.

Prices revised

Separately, the company said it has revised iron ore priced from July 31. The price of Lump Ore (65.5%, 6-40mm) is ₹2,650 a tonne or ₹200 more than ₹2,450 fixed on June 30. The company had also decided to increase the prices of Fines (64%, -10mm) by ₹200 to ₹2,360 per tonne (₹ 2,160). The above FOR prices are excluding Royalty, DMF, NMET, Cess, Forest Permit Fee and other taxes, the company said.

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Printable version | Sep 26, 2020 11:46:36 PM | https://www.thehindu.com/business/nmdc-posts-higher-output-sales-in-july/article32271480.ece

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