India: NMDC to Auction 40,000 MT Iron Ore from Chhattisgarh Mines

India's largest iron ore miner - National Mineral Development Corporation (NMDC) is going to conduct an e-auction of 8,000 MT lump ore, 8,000 MT ROM, 8,000 MT DRCLO and 16,000 MT iron ore fines.

Due Date: Last date for submitting the required documents is 28Aug’19 and the auction will start on the same day at 13:00 hrs.

The miner announced a cut in its iron ore prices yesterday. Prices of iron ore fines and lumps have been reduced by INR 200/MT and in DR-CLO price cut is by INR 230/MT. Prices of Baila lump ore is at INR 2,900 per wet metric tonne (wmt), Baila iron ore fines are at INR 2,660 per wet metric tonne and DR CLO is at INR 3,370 per wet metric tonne. FoR prices mentioned are excluding Royalty, DMF, NMET and other taxes.