Tuesday, August 17, 2010

Commerce Ministry expresses discontent over iron ore export ban

India’s Commerce and Industry Ministry has expressed its discontent over the proposal curb iron ore exports by Ministry of Steel and Karnataka.

Addressing in the Lock Sabha, Minister of State for Commerce and Industry, Jyotiraditya Scindai said, banning iron export would adversely affect the economy as industry provides employment opportunities in the remote areas of the country.

Besides, the county has been producing iron ore more than the steel industries of the country actually require. India is mainly exporting iron ore fines, which are not used by domestic steel industry due to limited sintering and pelletisation capacity, the added.

Scindia also pointed out that the surplus production may cause environmental degradation and hazards in mining areas, if not evacuated and exported

The Steel Ministry and the Chief Minister of Karnataka, B.S. Yeddyurappa are in favour of discouraging exports of iron ore to appropriate export duty in view of exploitation of mines and illegal mining.

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