July 28,
Karnataka may ban transport permits to prevent Iron ore exporters from using other ports, a day after banning such exports from 10 ports. An order banning issue of permits to transport Iron ore for exports will be issued today.However, firms engaged in mining are allowed to supply the material to Steel plants in the State for value addition.
Any setback on ore exports by India will be a cause of concern because it would not only threaten the Iron ore supply in the international market but also prompt China, one of the key importers to turn towards the top producers- Australia and Brazil.
The move, designed to stamp out illegal mining and tax evasion, will hit supplies from Karnataka, which mined nearly 46 million tonnes of iron ore, or a fifth of total Indian production.
Source: Reuters
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