gfiles magazine

October 10, 2016

IRON ORE PRICES NMDC continues to suffer losses, voluntarily

What happens when a leading mining company, which is majority-owned by the government and also listed on the stock exchanges, deliberately sells its mined output year-after-year at a hefty discount to international benchmarks? Ideally, the company’s trade practices should come under intense scrutiny and a full-scale investigation must be ordered to dig out the extent of loss, both to the State exchequer as well as minority shareholders. This should be followed by a course correction and re-pricing of mined minerals.

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