With over 25 per cent decline in
iron ore exports during the April-October period, the Federation of Indian
Mineral Industries has further lowered the export target to 60 million tonnes
for the current fiscal.
“Iron ore exports from the
country fell 25.15 per cent in the first seven months of the current fiscal to
35.38 million tonnes. At this rate, our exports would not be more than 60 mt
this fiscal,” FIMI Secretary General, Mr R.K. Sharma, told PTI here today.
During April-September last
fiscal, exports stood at 47.27 mt.
India had docked a little over 97
mt last fiscal and following the ban on mining in Karnataka, the miners' body
had estimated that the exports would be around 70-75 million tonnes in the
current fiscal.
Mr Sharma said mining ban in
Karnataka, closure of 45 mines in Goa due to environmental reasons and rise in
export duty and freight charges have made iron ore exports an unviable
proposition, triggering FIMI to lower its estimates.
“The price of iron ore in the
international market is not a viable price for an exporter. He has to pay up to
Rs 100 towards railway freight, 20 per duty on exports and 10 per cent
royalty,” he added.
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