NMDC has reduced prices of high grade iron ore or lumps by Rs 200 to Rs 2,700 per tonne. The company has also cut the prices for iron ore fines, which is inferior grade ore, by Rs 200 to Rs 2,460 per tonne. The revised prices exclude royalty, DMF (District Mineral Fund), NMET (National Mineral Exploration Trust), cess, forest permit fee and other taxes.
NMDC is a state-controlled mineral producer of the Government of India. It is fully owned by the Government of India and is under administrative control of the Ministry of Steel.