Iron ore exports to see decline in near term over Covid-19 concerns

Iron ore exports from the country have suffered a jolt owing to ramped down port operations, logistics issues and glaring labour shortage

After witnessing a whopping year-on-year growth of 136 per cent during April-January of FY20, the country’s iron ore exports are projected to decline as the Covid-19 induced lockdown takes a toll on port operations and availability of labour.

“There is hardly any significant production from merchant mines now. We are not getting ample workforce or trucks to move even the accumulated ore. Export orders have evaporated after the outbreak and spread of the virulent Coronavirus disease. Iron ore exports are bound to decelerate in this fiscal as we don’t see any quick recovery in sight," said a leading standalone miner