 "iron ore")
With sale of iron ore from Karnataka mines, including state-owned NMDC, having fallen sharply, miners may have to cut prices of the raw material in order to clamp down the glut situation, industry officials and brokerages said on Monday. State-owned iron ore miner, NMDC Ltd has the highest contribution to Karnataka's iron ore production which now stands at a ceiling of 35 million tonne from 30 million earlier. NMDC produces about 12 million tonne ore annually from its Donimalai mine in the state.
“There is no option but to lower ore prices if the material has to get lifted. This
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