Hike In Iron Ore Export Duty Worries Firms.

BANGALORE: Mining companies have expressed concern over the 20% export duty on iron ore imposed in the Union budget. "The duty is a bolt from the blue to the mining industry which is suffering in Karnataka due to illogical ban on iron ore export. It's a matter of concern as to who will bear the cost, the seller or the buyer. This is a steep hike from 5% to 20%," Rahul Baldota, executive director, Baldota Group said.

Karnataka gets two types of iron ore __ fine and in lumps. India exports only the fine quality and its export duty has gone up from 5% to 20%.

Source : timesofindia.indiatimes.com