NMDC’s fate hangs on outcome of Karnataka mining bill that increases royalty
Source: Live Mint NMDC Ltd’s shares have declined about 20% since its December high, after the Karnataka (Minerals Rights and Mineral Bearing Land) Tax Bill, 2024, was passed by the state legislative assembly. The bill, pending the governor’s approval, substantially increases the royalty payable by mining companies. Even though NMDC, the largest iron ore producer…