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Monday, January 2, 2012

Indian iron ore exports in April to November dip by down 28pct YoY

Monday, 02 Jan 2012

Indian iron ore exports dipped by over 28% YoY to about 40 million tonnes in April to November 2011 following ban on shipments from Karnataka and subdued output in Goa. According to the data released by Federation of Indian Mineral Industries, iron ore exports from the country were over 55.5 million tonnes in the year ago period.

FIMI Secretary General Mr RK Sharma told PTI that "The decline in exports of iron ore is due to a number of reasons. The Karnataka ban comes on the top. Also, several mines in Goa are closed and the Odisha government has stopped giving export permits.” Iron ore exports from the country were not positive since the beginning of the current fiscal compared to the corresponding periods of the last fiscal. The most glaring fall was in August, when it came down by nearly 45% to 2.6 million tonnes from 4.7 million tonnes. November was equally bad as shipments dipped by nearly 44% to 4.7 million tonnes against 8.3 million tonnes recorded in November 2010.

India the third largest global exporter of iron ore, had exported 97.64 million tonnes iron ore in the last fiscal, down from 117.3 million tonnes in 2009-10.

(Sourced from PTI)

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