| Date: |
08-05-2010 |
| Subject: |
India likely to export 100mt of iron ore in 2010-11: MMTC |
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NEW DELHI: The country is expected to export around 100 million tonnes of iron ore in the current fiscal, a senior government official said today.
"India's iron ore exports in 2010-11 are expected to be about 100 million tonnes," MMTC CMD Sanjeev Batra told reporters here.
The country exported about 105.67 million tonnes of iron ore in 2008-09, and it is expected in the similar range in the last fiscal, Federations of Indian Mineral Industries Secretary General R K Sharma said.
However, Sharma added that the recent increase in export duty on iron ore lumps to 15 per cent from previous 10 per cent may reduce its outward shipments by 50 per cent. The country exported around five million tonnes of iron ore during 2008-09. Official iron ore export figures are not declared yet.
The government levies 5 per cent export duty on iron ore fines, which comprise the bulk of iron ore outward shipments.
The country produced about 230 million tonnes of iron ore in the last fiscal. India exports majority of its iron ore fines to China.
Source : The Economic Times
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