Thursday, December 23,
Iron ore exports continued to slide due to the ban imposed by Karnataka, a key producer.
Iron ore exports for November were down 30.59 per cent to 8.07 million tonnes as against 11.53 million tonnes exported in the corresponding period last year, according to the Federation of Indian Mineral Industries (FIMI).
Exports for April-November were down 16 per cent to 54.58 million tonnes as against 64.74 million tonnes in the corresponding period last year. Iron ore exports stood at 117 million tonnes in the year-ended March.
Karnataka, which accounts for a third of India’s exports, had banned exports in July mainly to curb illegal mining and encourage domestic value addition. The exporters had contested the ban and the matter is now being heard by the Supreme Court, which had issued a notice last week to the Karnataka Government. The Supreme Court is expected to hear the matter in the third week of January.
Source: The Business Line
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