NMDC posts 185.46 lakh-tonne sales in April-November

National Mineral Development Corporation (NMDC) sold 185.46 lakh tonnes of iron ore in during the first eight months of the ongoing fiscal year (FY14).

Production of the state-owned firm stood at 173.44 lakh tonnes in the same period, April-November, it said in a statement on Monday.

NMDC is India's largest producer of the key steel-making raw material.

The company has set 300 lakh tonnes sales target in FY14.

NMDC, which fixes the price of iron ore on monthly basis, has recently increased it by Rs 200 per tonne for both lumps and fines.

Following the hike, the price of lumps, which has higher iron content, stood at Rs 4,500 a tonne and Rs 2,810 for the inferior quality fines for December.