August 17,
The Karnataka State Government on Monday justified its order on banning iron ore export stating that it had all the authority to do this.
The Government said the ban has been enforced under the Mines and Minerals (Development and Regulation) Act, 1957 and Mineral Concession Rules and Karnataka Forest Act to regulate the export of iron ore.
It also said, “The mining industry is earning a profit of Rs 5,000 per tonne by exporting Iron ore. From 2004 to 2010, nearly 30 million tonnes has been illegally exported from the state without valid permits.” The total cost of excavating iron ore per tonne is Rs 300 while it is being sold at Rs 5,000 per tonne.
So, the Government wants to prevent illegal exports and conserve the natural resource to increase the per capita consumption of steel.
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