NMDC CMD for national policy on iron ore export

Expressing concern over depleting iron ore reserves in the country, the chairman and managing director (CMD) of the state-owned NMDC, Rana Som, today said there should be a national consensus and policy on iron ore production and export.

"Let there be a national consensus and policy on iron ore production and export," he said while speaking at the technical session of the third Asian Mining Congress here.

According to a study by the American zeological survey, India has 9.8 billion tonnes of iron ore of which 6.6 billion tonnes were proven reserves, he said. This would last for 30 years.

Australia on the other hand has 45 billion tonnes and Brazil 33 billion tonnes of iron ore reserves, he said.

Laying stress on more exploration of iron ore, Som regretted that in India only a meagre amount was spent for this purpose.

NMDC on its part, he said, was giving stress on export activities.

He said that NMDC had offered to do free mapping of mineral reserves in Jharkhand through exploration.

"There is a huge area which needs to be explored to find out the exact amount of the mineral reserves especially iron ores in Jharkhand," he said.