Trade Resources Policy & Opinion Economic Times Cited a Top Industry

Economic Times Cited a Top Industry

Economic Times cited a top industry official as saying that the country is likely to import around 15 million tonnes of iron ore this financial year following the virtual halt of mining operations in different parts of the country.

Mr Basant Poddar VP of Federation of Indian Mineral Industries said that "If the current trend continues, then we may import around 15 million tonne iron ore in the current financial year."

As per industry experts, the country has imported around 9 million tonne iron ore during the April to October period.

Major iron ore producing states like Goa, Karnataka and Odisha among others have witnessed halting of mining after the Supreme Court crackdown on illegal mining.

As a consequence, many steel firms are facing scarcity of iron ore and are being forced to imports to meet the shortfall in raw material.

Mr Poddar said that things are not likely to change in the near future on the production front.

Referring to upcoming SC appointed Central Empowered Committee report on Goa, he said recommendation are likely to be the same for Goa as it has done for Karnataka.

Source: http://www.steelguru.com/raw_material_news/India_likely_to_import_15_million_tonnes_iron_ore_this_fiscal/293882.html
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India Likely to Import 15 Million Tonnes Iron Ore This Fiscal
Topics: Metallurgy