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Govt mulls halting NMDC iron ore exports

Written by Priyadarshi Siddhanta | New Delhi | June 2, 2014 12:28 am Print


Commerce ministry called a meet on June 5 to deliberate a proposal to stop NMDC from exporting 2.5 million tonne iron ore to Japan and South Korea.

The NDA government is likely to consider a proposal to curb iron ore exports by NMDC Limited to Japan and South Korea for the next three years in view of the ongoing scarcity of steel-making input, which has reportedly led to steel and sponge iron makers cutting down their capacities.

Acting on a proposal of industry body Assocham, the commerce ministry has convened a meeting of an inter-ministerial group comprising top officials of steel and mines ministries and representatives of industry on June 5, to deliberate at length on a proposal to stop the country’s biggest miner, NMDC, from exporting 2.5 million tonne (MT) iron ore to these two nations.

http://indianexpress.com/article/business/business-others/govt-mulls-halting-nmdc-iron-ore-exports/