To boost production to enhance export of Iron ore, Mines Minister Dinsha Patel seeks 50% cut in iron ore export duty.
“We have sought reduction in the
duty on fines to 15% from the Finance Ministry, to boost production to
enhance export of the mineral. Now they have to decide it. Presently there is a
uniform duty of 30% on both, iron ore lumps and fines.
Whatever is domestic demand should be made available, there should not be
any shortage but lower grade iron ore, which cannot be utilised here, what do
we do with them if we don't export.
Whoever is saying that iron ore is not available (for the domestic steel
industry) is not correct. I am not willing to accept it.
In 2010-11, Indian iron ore production was about 210 million
tonnes (MT), whereas steel industry's total production was 65-70 MT. So their
requirement was not more than 110 MT during that period”, said the Mines Minister.
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