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Indian iron ore exports face more restrictions

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It’s reported that Indian government was mulling to takes more restrictions to ban iron ore exports, aiming to put down illegal mining activity and ensure the sufficient supply to local industry.

Mr. Haresh Melwani, the CEO of H.L. Nathurmal indicated that Indian government considered iron ore as exhausted resource and planned to restrict the iron ore exports below 30 million tons.

He added that the carelessness monitor caused the crisis to mining industry and he worried that Goa state will meet the same situation as Karnataka state, where the mining operations have been facing shutdown due to the investigation in illegal mining activities.

Besides, Mr. Haresh Melwani pointed out that Indian government was planning to increase the export duty of iron ore to 30% from the current 20%.

Affected by these factors, it has been seen that Indian mining companies would face more and more difficulties in export market in the near future.
News Date 20 Sep 2011 15:49:59 reported by Echo Huo

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