Business Standard

Karnataka iron ore mines stuck with 6.5 million tonnes of unsold inventory

The miners are not able to sell the inventory in the state or domestic market since buyers prefer imported iron ore as they feel it is better on quality

India had produced more than 200 mt of iron ore in 2010-11
Premium

T E Narasimhan Chennai
Iron ore miners in Karnataka are stuck with 6.5 million tonnes of unsold inventory as against 1.5 mt a year ago. And one of the reasons is that the steel companies are buying ore from other states, while Karnataka mines are not allowed to export outside the state. Unsold ore amounts to more than 20 per cent of the total production of iron ore in the state in FY19. 

The miners are not able to sell the inventory in the state or domestic market since buyers prefer imported iron ore as they feel it is better on quality. This peculiar

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Apr 25 2019 | 10:49 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com