Wednesday, 16 November 2011
The Federation of Indian Mineral Industries (FIMI) has urged Indian government not to impose a blanket ban on iron ore exports, as it would "affect India's steel industry and result in the closure of captive mines."
FIMI secretary R K Bansal has said that the domestic steel industry has much more iron ore supply than the required volume. A blanket on iron ore export will cause most non-captive mine to close. It is stated that due to mining halt, exploration will also stop preventing further additions to reserves and resources.
FIMI also suggested that steel plants should not be allowed to have captive mines since the domestic iron ore production is already more than the domestic demand and will continue to be so for the next few years.
Tags: iron ore , India , raw mat , South Asia , Indian Subcon , mining , quotas & duties
Sourced:steelorbis
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