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Issues with Karnataka govt sorted, Donimalai mines to restart soon: NMDC

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NMDC's Q3 earnings came in above estimates owing to higher than expected realisations and lower costs.

NMDC's Q3 earnings came in above estimates owing to higher than expected realisations and lower costs.
CNBC-TV18’s Nigel D'Souza spoke to Sumit Deb, CMD of the company, and asked him when operations at the Donimalai mine will restart. “The state government had raised some issues consequent to our starting of the mines. We have discussed with them and we have sorted out those issues. We are very hopeful and we should be able to restart in couple of days’ time,” Deb said.
“Our guidance was of 2 million tonnes in the Q4 but we almost have lost January, in the balance period we definitely look at some contribution - around a million definitely from Donimalai.”
While giving outlook for FY22 volumes, Deb said, “We are sticking to this 40 million tonne, and that is with Donimalai.”
On railway line, Deb said, "Doubling of the KK railway line is almost completed, it is online and railways have promised us that they will be able to complete it at the earliest. By next year FY22, we should be able to commission the whole line.”
On iron ore price, he said, “Actually there has been a slight dip in the prices of steel, sponge iron, pellets and most of these products have taken a huge dip. That was one of the reasons we took a decision to take a cut ass we felt that was the requirement as per the market conditions.”
“Going forward expect NMDC iron ore prices to stabilise at these levels,” he added.
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