National Mineral Development Corporation (NMDC), a state-run iron ore miner, is reportedly planning to increase its iron ore production by another five to eight million tonne in the current financial year in the hope of better price realisations. The company is likely to increase its production to 35-38 million tonne from 30.44 million tonne last year. Coupled with certain anti-dumping duties and taxes expected to be levied by the government, the company hope the iron ore prices to increase to around $60-$70 per tonne going forward.
NMDC is a state-controlled mineral producer of the Government of India. It is fully owned by the Government of India and is under administrative control of the Ministry of Steel.
