NMDC to launch e-auction platform for iron ore
Indian National Mineral Development Corp (NMDC) intends to launch a new online trading platform for iron ore to meet the growing demand of raw material and the requirements of a large section of steel companies.Moreover, the increasing input costs of iron ore caused the unstable supply and the e-auction platform is intended to prevent artificial scarcity in the market.The government would fix the quantity of iron ore which under the e-auction platform as NMDC produces 35 million tons annually.
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