State-owned miner NMDC has said it needs government support in terms of allocation of iron ore mines to check increasing import pressure from international biggies like Rio Tinto and BHP Billiton.
“India is likely to face increasing pressure of iron ore import from Big-3 miners (Vale, BHP Billiton and Rio Tinto)… (NMDC) needs to assess our product-mix, pricing strategy… It needs proactive support from the government for policies related to allocation of iron ore leases, auction of mines and exports,” NMDC said in its latest annual report.
The company had spent Rs 3,136 crore as capital expenditure in the last financial year, the highest in any given year since its inception.
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