NMDC, the country's largest iron ore mining company, has slashed prices of higher grade iron (lumps) by Rs 100 to Rs 3,000 per tonne for the current month.
The state-run firm has also cut the prices for iron ore fines, which are inferior grade ore, by Rs 100 to Rs 2,660 per tonne for March.
The prices exclude royalty, DMF (District Mineral Fund), NMET (National Mineral Exploration Trust), cess, forest permit fee and other taxes.
In February, the company had fixed the prices of lump ore at Rs 3,100 per tonne and of fines at Rs 2,760 per tonne.
Iron ore is the main ingredient used in making steel. NMDC produces about 30 million tonne of iron ore from three fully mechanised mines.
The company is involved in the exploration of wide range of minerals including iron ore, copper, rock phosphate, lime stone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, beach sands etc.
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