Budget update - India imposes 10pct export tax on bauxite.

The Indian finance minster’s proposal to impose a 10% export duty on bauxite on an ad valorem basis is likely to discourage exports of an important raw material for aluminium industry.

It will thus benefit the domestic aluminium sector, like National Aluminium Company, Hindalco industries, Balco and Vedanta Aluminium

Bauxite, a key raw material for aluminium, is mined and subsequently processed through smelting to produce alumina, which is refined to produce the metal.

India has reserves of good quality bauxite, estimated at 5th largest in the world, which gives our aluminum industry a major cost advantage in terms of a secure raw material base.


Source : steelguru.com