No Proposal to Ban Iron Ore Exports.

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..... No Proposal to Ban Iron Ore Exports.
News and Press Release
Dated:- 16-5-2012

Press Information Bureau Government of India Ministry of Commerce & Industry 16-May-2012 15:47 IST No Proposal to Ban Iron Ore Exports The current rate of export duty with effect from 30.12.2011 is 30% ad-valorem on all types of iron ore (except Pellets). Details of iron ore domestic consumption an .....

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..... d export since 2007 is as per the statement given below:- Qty in million tonnes YEAR DOMESTIC CONSUMPTION EXPORT 2007-08 85.30 104.27 2008-09 85.51 105.87 2009-10 90.62 117.37 2010-11 106.16 97.66 There is no proposal to ban export of iron-ore. At present export is being ­­­­discouraged through higher export tariff and higher railway freight on export cargo. Regul .....

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..... ations on exports other than through fiscal measures may have an adverse impact on the development of iron ore mining as a whole. Stockpiling of iron ore 'fines' would cause environmental hazards and increase the cost of lumpy ore used by domestic industry. However, the Hon'ble Supreme Court of India, vide its order dated 29th July, 2011, suspended mining operations and transportation of iron ore .....

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..... in Bellary District, Karnataka, in view of over exploitation and subsequently also directed that no part of the iron ore production in Bellary shall be exported till further orders. This information was given by the Minister of State for Commerce and Industry, Shri Jyotiraditya M. Scindia in a written reply in the Rajya Sabha today. DS/GK
News - Press release - PIB .....

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