India’s largest iron ore mining company NMDC has lost about 22 per cent of its market value since mid-September on declining domestic iron ore prices. The company had to take price cuts over the past two months.
Moreover, concerns due to the halting of production at NMDC’s Donimalai mines in Karnataka, over mining rental issues, remain elevated. While the resolution of production and pricing issues is awaited, a mining disaster in Brazil has led to the possibility that Vale SA — the world’s second-largest producer — may come under scrutiny, thereby ...
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