Develop tech to use iron ore fines, says Handique .

New Delhi, June 21 The Ministry of Mines is of the opinion that the steel industry should develop technology to utilise the iron-ore fines before seeking a curb on the iron ore exports.

The Steel Ministry, seeking to protect the interest of the domestic steel mills, has time and again demanded a ban on iron ore exports, whereas the Law Ministry is said to be in favour of curbing exports to conserve the resources.

“The steel industry should concentrate on evolving technology to utilise the iron ore fines before seeking a ban on exports,” said Mr B.K. Handique, Minister of Mines, told Business Line.

“It is not that we are against banning iron ore exports. We periodically review internally whether to continue or discontinue exports. So far, I don't see any reason to ban exports,” Mr Handique said.

Exports

The iron ore fines account for a bulk of the total Indian iron ore exports. In 2008-09, India's iron ore production stood at 215.4 million tonnes (mt), while the domestic consumption was 90.27 mt. Of the 104.5 mt exported, fines accounted for around 80 per cent.

Making a case for exports in the current scenario, Mr Handique said, “the iron ore fines are a fall-out of the mining process and we don't have technology to use them. If you don't use it, where do you keep them?.”

Mr Handique added that fines, found just beneath the surface, tend to pollute the mining area and have to be disposed of. The export demand for fines, mainly from countries such as China, has created lot of job opportunities. “Once the exports are discontinued, people will go out of job,” Mr Handique said.

Source : Business Line