Indian Iron ore export witnessed a 65% slump during FY15 due to low Iron ore prices in global market and mining restrictions in India
India, once the third largest exporter of Iron ore, had exported 16 MnT of the mineral in FY14, 18.1 MnT in FY13, 61.7 MnT in FY12 and 97.6 MnT in FY11. Iron ore exports for FY15 stood at 5.6 million tonnes (MnT).
MMTC, who exports on behalf of NMDC, remains the largest exporter from India, with a total tonnage of 2.4 MnT, followed by Rungta Mines Ltd (0.42 MnT) and Bagadiya Brothers (0.34 MnT) in FY15.
Essar Steels was the largest exporter of Pellets having exported total quantity of 0.56 MnT in FY15, followed by KIOCL and BRPL.
Vizag (2.6 MnT), Paradip (0.8 MnT), Panaji (0.4 MnT) and Haldia (0.3 MnT) are the major ports accounting for the bulk exports of the mineral.
Indian Iron ore exports have been hit in last few years due to mining restrictions in the country, leading to a drastic fall in domestic production. Besides, an export duty of 30% and differential freight policy has hit the sector.
Shipper wise Iron ore Export in FY15
| Shipper | Iron ore | Pellet | Total |
| MMTC | 2,398,450 | – | 2,398,450 |
| Essar Steel | – | 565,000 | 565,000 |
| Rungta Mines | 426,520 | – | 426,520 |
| Bagadiya Brothers | 338,815 | – | 338,815 |
| Samruddha | 321,174 | – | 321,174 |
| Royal Lines | 224,000 | – | 224,000 |
| Sesa Sterlite | 142,000 | – | 142,000 |
| KIOCL | – | 110,000 | 110,000 |
| SM Niryat | 107,200 | – | 107,200 |
| BRPL | – | 102,000 | 102,000 |
| Gimpex | 70,000 | – | 70,000 |
| Progressive Mines | 65,000 | – | 65,000 |
| Fomento | 60,000 | – | 60,000 |
| TUF | – | 35,000 | 35,000 |
| Netincon | – | 21,000 | 21,000 |
| Others | 615,392 | – | 615,392 |
| Total | 4,768,551 | 833,000 | 5,601,551 |
Qty in MT
Source: SteelMint Stats, Customs
Provisional Data
Indian Govt may remove 30% Export Duty on low grade Ore
The government may consider cutting the export duty for low-quality Iron ore produced by the country’s biggest exporting state, Goa, which may make Indian miners a little competitive in global market. After action against illegal mining kept the industry shut for over two years, Goa is expected to resume Iron ore production by April.
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