State-owned National Mineral Development Corporation (NMDC) is reportedly set to hike fine prices by Rs 100 per tonne from February 13, 2014. The price hike will be in line with the global pricing of the ore and domestic demand-supply scenario.
Earlier in December 2013, the company hiked its iron ore prices by Rs 200 a tonne. The iron ore miner, which follows a monthly pricing system, introduced the hike both for lumps and fines.
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.