News & Filings
NMDC \u2014 Recent Activity
2 items in the last 14 days
AI Summary
India's top miner, NMDC, is considering changes to how it prices iron ore, which could potentially impact the steel industry and related stocks. Additionally, NMDC is looking to acquire coking coal assets in countries like Indonesia and Australia, which may affect the company's financials and operations. These developments could have implications for investors with interests in the mining and steel sectors in India.
India's top miner tests local iron ore pricing; shift from global index, source says
NEW DELHI (Reuters) -India's key iron ore producer NMDC is testing a new pricing formula for its output to shield its profits from the volatilities reflected in global benchmarks, a source with direct knowledge of the matter told Reuters. State-run NMDC, which sells its output locally, currently releases monthly iron ore prices linked to inventories, international prices and domestic market dynamics. The company plans to launch the new formula after initial trials, the source said, declining t
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India's NMDC exploring coking coal assets in Indonesia, Australia, chairman says
MUMBAI (Reuters) -Indian miner NMDC is exploring coking coal assets, key ingredient used for making iron ore and steel, in Indonesia and Australia, Chairman Amitava Mukherjee said on Thursday. India, the world's second-largest producer of crude steel, meets 85% of its coking coal requirements through imports. State-owned NMDC is India's largest iron ore miner with four operational mines across the country.
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