Government of India said that there would be no restriction on export of iron ore, as there is surplus of the mineral in the country even after its export.
Mr Anand Sharma Minister for Commerce and Industry informed Rajya Sabha during Question Hour that "There have been demands from time to time for restricting the export of major minerals like iron ore, manganese ore and chrome ore.”
Mr Sharma said that while there are quantitative and qualitative restrictions on export of Manganese and Chrome Ore, in case of iron ore, iron ore lumps and fines of iron content, more than 64% are canalized for export.
He added that "There are quantitative restrictions in respect of export of high grade Bailadila iron ore. In respect of iron ore lumps and fines of less than 64% iron content, there are no restrictions on export. However iron ore lumps attract a 5% advalorem export duty.”
Source : Hindustan Times