MMTC to tie up with NMDC for iron ore exports to Japan, South Korea

2.6 million tonnes to be exported each year

State-run Metals and Minerals Trading Corporation of India (MMTC) Ltd has initiated dialogue with leading iron ore producer National Mineral Development Corporation (NMDC) for exports of the commodity to South Korea and Japan.

MMTC is looking at a five-year agreement with NMDC for a supply of 2.6 million tonnes of iron ore each year.

"We already have an agreement with NMDC wherein its iron ore exports are canalised through NMDC. Now, we are looking at a longer pact of five years to ship 2.6 million tonnes of iron ore annually to steel making industries in Japan and South Korea. The