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NSL Consolidated (ASX: NSL) non-executive chairman John Muir and non-executive director Peter Wall have both increased their stakes less than a week after the company achieved the milestone first ore sales in India.

Muir has purchased 100,000 NSL shares in an on market trade for about $0.064 per share, bringing the total consideration to $6,400.

Meanwhile, Wall spent $10,867.50 to take up 172,500 shares on market, at a price of $0.063 per share.

These transactions take Muir's total holdings to more than 6 million shares and Wall's holdings to more than 10.4 million shares.

Last week NSL announced the first ex gate sales of iron ore into the Indian domestic market.

The company is targeting an initial steady production rate of 200,000 beneficiated tonnes per annum from the first phase of operations at the Kurnool stockyard, with beneficiated grades of up to 58% achieved last month.

A 58% iron ore product sells domestically for about US$90 per tonne, meaning that at 200,000 tonnes per annum production, NSL is looking at first phase revenue of $18 million.

Construction and commissioning is continuing on the Phase 1 Kurnool iron ore dry separation plant, with final commissioning on track to occur prior to June 30, 2012.

NSL is the only foreign company to own and operate iron ore mines in India.

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