India likely to import 15 MT iron ore this fiscal: Fimi.

"The country is likely to import around 15 million tonnes (MT) of iron ore this financial year, following the virtual halt of mining operations in different parts of the country," a top industry official said on Friday.

"If the current trend (of scarcity) continues, then we may import around 15 MT iron ore in the current financial year," Federation of Indian Mineral Industries (Fimi) vice-president Basant Poddar told PTI.

As per industry experts, the country has imported around 9 MT iron ore during the April-October period. Major iron ore producing states like Goa, Karnataka and Odisha among others have witnessed halting of mining after the Supreme Court crackdown on illegal mining. As a consequence, many steel firms are facing scarcity of iron ore and are being forced to imports to meet the shortfall in raw material.

Poddar also said things are not likely to change in the near future on the production front. Referring to upcoming Supreme Court-appointed Central Empowered Committee report on Goa, Poddar said recommendation are likely to be the same for Goa as it has done for Karnataka.

The mining operations have been completely stopped in Goa for the past few months after the Supreme Court order. Earlier, mines in Karnataka have been divided into categories like A, B, C and the Supreme Court has allowed mining in the category A mines with no irregularities.


Source : moneycontrol.com