New Delhi, Sep 6 (PTI) Mining major NMDC on Monday said it has slashed prices of lump ore and fines by Rs 1,000 per tonne.

In a filing to BSE, the company said price of lump ore has been fixed at Rs 6,150 per tonne and that of fines at Rs 5,160 a tonne.

Also Read | Vivo X70 Series Global Launch Postponed, Check New Launch Date Here.

The revised prices exclude royalty, District Mineral Fund (DMF), National Mineral Exploration Trust (DMET), cess, forest permit fee and other taxes, NMDC said.

It added that the new rates are effective from September 4, 2021.

Also Read | EPFO Likely to Pay Interest Before Diwali 2021, Finance Ministry’s Approval Awaited: Report.

In the last revision announced on August 6, 2021, NMDC had fixed the price of lumps or high-grade iron ore at Rs 7,150 per tonne. The price of fines, which are inferior grade ore, was fixed at Rs 6,160 per tonne.

Any change in the rates of iron ore impacts the prices of steel.

NMDC, under the Ministry of Steel, is the country's largest iron ore producer.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)