NMDC iron ore prices remain flat in Aug; output jumps 37% in July

State-run miner NMDC on Friday announced no change in its iron ore prices for August month and reported a 37 per cent jump in production to 1.95 million tonne in July 2019 compared to 1.42 million tonnes in the year-ago month.

NMDC has kept the prices of lump ore and fines unchanged at Rs 3,100 per tonne and Rs 2,860 per tonne, respectively, with effect from August 3, according to a regulatory filing.

"The prices effective from August 3, 2019, are excluding royalty, DMF, NMET, cess, forest permit fee and other taxes," NMDC said in a separate filing.

The company on June 29 had fixed the rates of lump ore and fines at Rs 3,100 per tonne and Rs 2,860 per tonne, respectively, with effect from the same day.

In a separate filing, the company informed the bourses that its iron ore production rose by 37 per cent to 1.95 million tonne in July 2019 compared to 1.42 million tonnes in the same month last year.

Sales during the month under review were at 2.41 million tonnes (MT), showing a growth of 24 per cent compared to 1.94 MT in July 2018, the filing said.

Shares of the company dropped 1.77 per cent to close at Rs 102.80 on BSE.

NMDC, under the Ministry of Steel, is the country's single-largest iron ore producer. It produces about 35 million tonnes of iron ore from three mines in Chhattisgarh and Karnataka.

Besides iron ore, NMDC is involved in the exploration of minerals including copper, rock phosphate, lime stone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, beach sands etc.