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While thanking you for carrying a report on NMDC and its expansion and diversification plans by ENS Economic Bureau under the caption 8216;NMDC may ignore ministry, try spot market8217; in your paper datelined New Delhi, September 24, this is to bring to your notice that the report contains a serious misinterpretation.

Referring to our CMD8217;s statement, 8216;We are planning to enter the spot market for trading some portion of our iron ore in the next two months,8217; and relating it to the steel ministry8217;s directive of 8216;doing business in the form of long-term contracts8217;, it is commented in the third paragraph of the report, 8216;Kumar8217;s comments indicate a widening rift between NMDC and the steel ministry8217;. This is a misinterpretation in letter and spirit. Therefore, the caption is totally misleading and erroneous.

Long-term contracts have been entered into between NMDC and its customers, in India and abroad. NMDC has been servicing this sector in terms of the contracts entered into for the purpose. This policy will continue.

In the second paragraph, the report has quoted our CMD, 8216;we, being the leading merchant mining company, will have to ensure that we are in a condition to adequately meet the needs of our existing and potential customers.8217;

This is indicative of the fact that NDMC is not jeopardising the interest of long-term customers, which is perfectly in line with the directives of the Ministry of Steel. Therefore, there is no rift between the steel ministry and NMDC.

I shall be grateful if you could bring out the facts and situation as they, in fact, are and set right the interpretational mistake in your report.