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Indian Ministry of Mines Pushing for Lifting Iron Ore Mining Ban

  • Wednesday, September 4, 2013
  • Source:

  • Keywords:Iron Ore
[Fellow]
[ferro-alloys. com ] India's ministry of mines is pushing the government to lift the ban oniron ore mining in key states. Over the past year exports of the steel making ingredient have dropped by more than 70%.

The ministry will file an affidavit with the Supreme Court within the next 2 weeks in support of its argument that the ban has impacted the overall economy, employment and revenue generation at the state and national level. A hearing will be held in mid September.

India is struggling to hold on to its title of third largest iron ore exporter, though it will likely become a net importer of the commodity this year. Exports have been shrinking since 2010 when they reached record highs of 117 million tonnes. Shipments in 2012 reached 61.7 million tonnes.

The ban came in response to illegal mining operations which were allegedly causing environmental damage. In April this year the industry saw some relief when the government partially lifted the ban on 63 mines in Karnataka. However, operations will take up to two years to recover as they work on meeting environmental standards.
  • [Editor:editor]

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