NMDC Limited has appointed Shri Vivek Nishant Nath as Director (Commercial) on its board for a period of five years effective July 15, 2026. The appointment follows an order issued by the Ministry of Steel, Government of India, communicated to the stock exchanges on July 18, 2026. Shri Nath assumes charge at India's largest iron ore producer, bringing over three decades of experience in the mining and metals sector.

The Ministry of Steel issued Order No. S-14013/2/2025-BLA dated July 14, 2026, regarding the appointment. He previously served as Chief General Manager (Sales & Marketing) at Odisha Mining Corporation Limited (OMC). During his tenure at OMC, he led sales and marketing functions for iron ore, chrome ore, manganese ore, bauxite, limestone, and ferrochrome, driving growth in sales volume from 12.33 million tonnes in FY 2020-21 to 38.26 million tonnes in FY 2025-26.

Shri Nath began his career with NMDC in 1992 and served for nearly fifteen years in various commercial roles. He subsequently held key positions at Essar Steel Limited and ArcelorMittal Nippon Steel India before joining OMC in 2021. An alumnus of the Indian Institute of Technology (Indian School of Mines), Dhanbad, he holds an MBA in International Business and has completed a Management Development Programme from IIM Indore.

The disclosure confirms that none of the other Directors on the Board of NMDC Limited are related to Shri Vivek Nishant Nath. The company affirmed that he is not debarred from holding the office of Director by virtue of any SEBI order or any other such authority. The intimation was signed by Pravin Shekhar, Company Secretary & Compliance Officer of NMDC Limited.

NMDC Limited has revised its iron ore prices effective July 10, 2026, cutting lump and fines prices amid weaker seaborne iron ore markets and softening Chinese demand. According to Morgan Stanley, NMDC reduced lump prices by ₹250 per ton and fines prices by ₹150 per ton, translating to reductions of ₹310 per ton and ₹190 per ton respectively on an inclusive-of-taxes basis.

Revised Iron Ore Pricing

The updated prices are set on a Free on Rail (FOR) basis and are exclusive of various statutory levies, including Royalty, District Mineral Foundation (DMF), National Mineral Exploration Trust (NMEDT), Cess, Forest Permit Fee, Transit Fee, Goods and Services Tax (GST), Environmental Cess, and other applicable taxes. The following table details the revised prices:

Market Context: Seaborne Weakness and Chinese Demand

Morgan Stanley attributed the price cuts to a combination of weaker seaborne iron ore prices and softer Chinese demand. Seaborne iron ore prices have declined approximately 7% since May-end, creating downward pressure on domestic pricing. Despite the reduction, Morgan Stanley noted that domestic fines continue to trade at a 50% discount to import parity, compared to the five-year average discount of 56%, suggesting domestic prices remain relatively elevated against the longer-term historical norm.

Regulatory Disclosure

The disclosure was made to the stock exchanges in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. NMDC has confirmed that the updated pricing information is available on its official website.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE584A01023/2d53ad576e58441c.pdf