National Mineral Development Corporation (NMDC), an Indian state-owned miner aims for an output of around 30 Million MT in FY’14. This output quantity of NMDC would be much higher in comparison to the output of 27.18 MnMT of FY’13 by around 17.7%.
NMDC also intends to export around 2.2-2.8 MnMT of Iron Ore in FY’14, but there is no such surety of this achievement, said an official. He further added that export business are at a loss owing to the pressure built by the central government for selling Iron Ore in the domestic market, increased freight charges, low pricing rates from seaborne markets and the export tariffs.
In FY’13 NMDC’s total export volume was around 2-3 MnMT. NMDC’s long term customers are the steel makers from Japan and Korea, under the contract between the mills and the Indian state-owned trader Metals and Minerals Trading Corporation of India (MMTC) which discusses the export prices with the customers for these cargoes.
NMDC – National Mineral Development Corporation
NMDC expects to complete its present expansion project at its Bailadila 11 B mine located in Chhattisgarh and Kumarswamy mine in Karnataka, by the end of December, 2013. Each mine would raise their production capacity by around 7 MnMT per annum as in the company document published week ended 23rd June, 2013. This is NMDC’s first step towards its goal of achieving a production capacity of 48 MnMT per annum which is at present around 32 MnMT per annum.
Furthermore, NMDC plans to set up an Iron Pellet plant near its mine at Donimalai in Karnataka with a production capacity of 1.2 MnMT per annum by December 2013. Tata Projects Ltd and China’s Sino steel Corp. are implementing on this project at present.
|Period||Domestic price (in Rs./Tonneon FOR mine basis)||Export price (in US $ /DLT-FOB port basis)|
|Baila Lump||Baila Fines||Baila Lump||Baila Fines|