Miners fear drop in iron ore exports

Miners fear drop in iron ore exports

Nearly 32 million tonnes of iron ore was shipped out from the country from April to September 2011.

The Goa Mineral Ore Exporters Association (GMOEA) said exports from Goa have dropped by 15 per cent and could touch 20 per cent by November end.

At an international conference here with Chinese buyers present, iron ore producers lashed out both at the government for its soft approach and poor infrastructure delivery and at the domestic steel industry, accusing it of “lobbying” against ore exports.

“Indian steel mills are pocketing huge discounts but not passing this to the public. It is the exporters who lose,” said Sesa Goa’s vice president A N Joshi.

He claimed MMTC was losing $2 billion annually by supplying 90 per cent of its high grade ore to domestic steel mills at a huge discount.