<p>The country's largest iron ore miner NMDC on Wednesday hiked rates of the mineral by Rs 300 to Rs 2,950 a tonne with immediate effect.</p>.<p>Iron ore is the key raw material used in steel making. Any change in its prices has a direct impact on the rates of steel.</p>.<p>In a filing to BSE, NMDC said it has increased the price of lumps or high-grade iron ore by Rs 300 to Rs 2,950 per tonne, and that of iron ore fines or inferior grade ore by Rs 300 to Rs 2,660 a tonne.</p>.<p>The revised prices exclude royalty, District Mineral Fund (DMF), National Mineral Exploration Trust (NMET), cess, forest permit fee, and other taxes, the company said.</p>.<p>It added that the new rates are effective from August 12, 2020.</p>.<p>The last revision, effective July 31, was announced on August 3, when NMDC had fixed the price of lumps at Rs 2,650 per tonne and of fines at Rs 2,360 a tonne.</p>.<p>NMDC, previously known as National Mineral Development Corporation, is also involved in the exploration of a wide range of minerals like copper, rock phosphate, lime stone, dolomite and gypsum.</p>
<p>The country's largest iron ore miner NMDC on Wednesday hiked rates of the mineral by Rs 300 to Rs 2,950 a tonne with immediate effect.</p>.<p>Iron ore is the key raw material used in steel making. Any change in its prices has a direct impact on the rates of steel.</p>.<p>In a filing to BSE, NMDC said it has increased the price of lumps or high-grade iron ore by Rs 300 to Rs 2,950 per tonne, and that of iron ore fines or inferior grade ore by Rs 300 to Rs 2,660 a tonne.</p>.<p>The revised prices exclude royalty, District Mineral Fund (DMF), National Mineral Exploration Trust (NMET), cess, forest permit fee, and other taxes, the company said.</p>.<p>It added that the new rates are effective from August 12, 2020.</p>.<p>The last revision, effective July 31, was announced on August 3, when NMDC had fixed the price of lumps at Rs 2,650 per tonne and of fines at Rs 2,360 a tonne.</p>.<p>NMDC, previously known as National Mineral Development Corporation, is also involved in the exploration of a wide range of minerals like copper, rock phosphate, lime stone, dolomite and gypsum.</p>