OREANDA-NEWS. April 6, 2011. The Company has achieved a production level of 25.19 million tons of Iron Ore which is about 6% higher than the previous year's production of 23.80 million tons.

On the sales front, the Company has achieved 26.33 million tons as against the sale of 24.09 million tons during 2009-10 recording an increase of 9%. This could be achieved due to improved rake supply by Railways as well as increase in offtake by domestic customers.

Consequent upon the increase in Iron Ore prices during 2010-11, the Company is likely to achieve a record turnover of more than 80% over the previous year.

The improved physical and financial performance will also get reflected on the profit of the Company.

Considering the present market conditions, the Company has decided to increase the lump ore prices provisionally by 10% over Q4 prices. The fine ore prices are however left unchanged. These prices are provisional and will get adjusted as soon as the international iron ore prices are settled.