Indian iron ore exports may decline further in 2012-13 - FIMI.

Deccan Herald reported that miners body Federation of Indian Mineral Industries on Friday said that India’s iron ore exports are likely to decline to 50 million tonnes in 2012-13.
FIMI secretary general Mr RK Sharma said that though the export in 2011-12 was 60 million tonnes, in the current fiscal it was likely to come down further by 10 million tonnes due to continuing mining ban in Karnataka, high export duty and railway freight charges.

The Supreme Court Green Bench while hearing the illegal mining case on Friday has accepted the recommendations of a Central Empowered Committee report on rehabilitation and reclamation of mines in three districts of Karnataka, but the court did not take any decision on the request of the mining companies to resume mining operations.

Mining in the Bellary region was banned in July last year and the Supreme Court extended the ban to two other iron ore rich districts Chitradurga and Tumkur in August as it probed violations of environmental norms.

The court allowed state run National Mineral Development Corporation to mine one million tonne of iron ore a month and ordered all sales to be conducted through online auctions.

Iron ore shipments from Karnataka, a major exporter of the raw material from the country, have been stopped since July, 2010 after the state government decision to supply ore only to domestic steel-making companies and curb illegal mining.

Source : steelguru.com