Increasing Export of Iron ORE

The export of iron-ore is presently under Open General License (OGL). High-grade iron-ore (+64% Fe) is canalized through MMTC. Exports are determined by availability and international market situations.

 Government has Long Term Agreements for supply of high grade iron-ore to Japan and South Korea through MMTC. A proposal for renewal of LTAs (for 3 years w.e.f 1.4.2015) is under way. Negotiations on quantity to be supplied and price thereof, shall commence after approval of renewal of LTAs. Iron-ore exports to Japan and South Korea under the LTA are largely made from NMDC mines in Bailadila, Chhattisgarh.

 This information was given by the Minister of State (Independent Charge) in the Ministry of Commerce & Industry Smt. Nirmala Sitharaman in a written reply in Rajya Sabha today.