Indian Iron Ore Mining Mess - Karnataka To Resume Iron Ore Exports This Week.

India's Karnataka state will start issuing iron ore shipment permits this week, more than a month after an export ban was lifted, but the imminent monsoon could leave only a small window for sales.

The southern state, which accounts for about a quarter of supplies from India, was ordered on April 5 by a court to lift an export ban on iron ore imposed last year in a drive against illegal mining and to keep supplies for local steelmakers.

A senior official said that Karnataka will start issuing transport permits for shipments of the commodity this week.

Issuing of transport permits to traders had been delayed while the state puts in place infrastructure such as checkpoints and satellite tracking systems to prevent illegal mining.

The senior state official said the delay was procedural and that the local government had until May 22 to act on the appeal for permits from exporters.

Mr HR Srinivasa director in Karnataka's mining and geology department told Reuters that "It (issuing permits) is a process and it takes time. We will do it this week.”

But the onset of the monsoon rains in about two weeks will hit mining operations and make transport difficult, limiting the amount of time exporters have to make shipments. Mr Srinivas said that "We will do as much as possible within this time.”

Source : steelguru.com