State-owned manganese ore producer MOIL has
increased prices of different grades of manganese ore in the range of 12.5% to
15% for the quarter July-September 2012.
Yesterday Steel Minister Beni Prasad Verma asked MOIL to
increase production in coming years.
The Company had produced 10.70 lakh tonnes of manganese ore
in FY12 as compared to 11.50 lakh tonnes in previous year.
In other news, the
steel ministry is planning to seek a higher import duty on manganese ore to
discourage its rising imports that threaten the domestic industry including the
public sector Manganese Ore India (MOIL). Currently, manganese ore, which is
used for steel manufacturing, attracts an import duty of 2%.
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