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NMDC
Adani Ports and Special Economic Zone Limited (APSEZ), through its subsidiary Adani Gangavaram Port Ltd, has signed a strategic Memorandum of Understanding with NMDC Ltd and Vale SA to develop an integrated iron ore blending facility and dedicated Special Economic Zone (SEZ) at Gangavaram Port. The MoU was signed at the India-Brazil Business Forum Summit in New Delhi during the official visit of Brazilian President Luiz Inacio Lula da Silva, the company said in a statement. Under the agreement, the three parties will jointly develop, operationalise and manage an SEZ-based ecosystem for blending, value addition and commercialisation of iron ore. The initiative is aimed at strengthening the iron ore export value chain on India's East Coast by improving efficiency, scale and global competitiveness in mineral processing and trade. With the proposed development, the capacity of Gangavaram Port is expected to increase to 75 million tonnes, positioning it as a major export hub for iron ore
NMDC Ltd on Tuesday posted around 8 per cent fall year-on-year in consolidated net profit to Rs 1,747.01 crore in the December quarter, impacted by higher expenses. It had reported a net profit of Rs 1,896.66 crore in the October-December period of preceding 2024-25 financial year, the company said in an exchange filing. The company's total income, however, rose to Rs 7,983.38 crore from Rs 6,942.92 crore in the same quarter a year ago, posting a rise of about 15 per cent. NMDC saw expenses rising to Rs 5 608.54 crore from Rs 4 359.07 Q3FY25. The board also approved an interim dividend of Rs 2.50 per equity share of face value of Re 1 each for the financial year 2025-26. NMDC, under the Ministry of Steel, is India's largest iron ore producing entity.
State-owned NMDC on Thursday reported a 14.64 per cent year-on-year rise in iron ore production and 18.67 per cent growth in sales in December. The miner produced 5.40 million tonnes (MT) of iron ore in December 2025, higher than 4.71 MT in the same month in 2024. Iron ore sales rose to 6.64 MT in the month under review from 3.91 MT in December 2024. NMDC's cumulative production rose to 36.89 MT in April-December FY26 from 30.77 MT in the nine-month period of the preceding FY25. Sales during the period also surged to 34.92 MT from 31.80 MT in April-December 2024-25. NMDC, under the Ministry of Steel, is India's largest iron ore mining company, catering to the country's over 20 per cent need for the key steel making raw material.
State-owned NMDC on Tuesday said it has slashed prices of iron ore lump and its fines by Rs 600 and Rs 500 per tonne, respectively, with immediate effect. It has fixed the price of lump ore at Rs 5,700 per tonne and fines at Rs 4,850 a tonne, the country's largest iron ore miner said in a regulatory filing. Lump ores or high-grade iron ores contain 65.5 per cent iron content, while fines are inferior-grade ores with 64 per cent or less iron content. In the last price revision announced on June 4, NMDC had fixed the rate of the lump at Rs 6,300 per tonne and that of fines at Rs 5,350 per tonne. The prices effective from July 1 are inclusive of royalty, district mineral fund (DMF), National Mineral Exploration Trust (DMET) and exclude cess, forest permit fee, transit fee, GST, environmental cess and other taxes. According to market research firm BigMint, "The domestic steel market remained under acute pressure, as prices continued on their downward trajectory. Throughout June, the r