Business Standard reported that Indian iron ore production is expected to fall by 40% to 100 million tonnes in 2012-13 as compared with 167 million tonnes 2011-12, which had also seen sharp decline from 208 million tonnes produced in 2010-11.
Mr RK Goyal MD of Kalyani Steels Limited said that “According to the Indian Bureau of Mines statistics, iron ore production during April to September this year was to the tune of 72 million tonnes. According to the Federation of Indian Mineral Industries, the production will not cross 100 million tonnes.”
He added that iron ore export had come down to 57 million tonne last year from 102 million tonne the previous year and could further decline to 30 million tonne to 35 million tonne this year.
According to representatives of the mining and steel industries, the clampdown on iron ore mining in Karnataka and Goa and the difficulty in developing new mining assets in the country have led the steel industry and the economy into a disadvantageous position.
