No restriction on export of iron ore, says Minister
Government on Wednesday said there would be no restriction on export of iron ore, as there is surplus of the mineral in the country even after its export.business Updated: Jul 22, 2009 16:43 IST
Government on Wednesday said there would be no restriction on export of iron ore, as there is surplus of the mineral in the country even after its export.
Minister for Commerce and Industry Anand Sharma on Wednesday informed Rajya Sabha during Question Hour that "there have been demands from time to time for restricting the export of major minerals like iron ore, manganese ore and chrome ore.
While there are quantitative and qualitative restrictions on export of Manganese and Chrome Ore, in case of iron ore, iron ore lumps and fines of iron content, more than 64 per cent are canalised for export, he said.
"There are quantitative restrictions in respect of export of high grade Bailadila iron ore. In respect of iron ore lumps and fines of less than 64 per cent iron content, there are no restrictions on export. However iron ore lumps attract a five per cent advalorem export duty," he added.