Sesa says iron ore exports tax could be scrapped before budget

Sesa Sterlite Ltd said on Thursday the government could remove an iron ore export tax as soon as next month, and such a move would help the country's top private miner boost output after two years of mining bans.

India's iron ore shipments have slowed to a trickle after mining bans in key producing states.
A 30 percent tax on exports has made it even more difficult for firms to sell to a world market where prices have almost halved in the past year.
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"We are very sure that the government are working on this very seriously and we may get it even before the budget," Aniruddha Joshi, a vice president at Sesa Sterlite, said on a conference call, referring to the company's discussions with the government on withdrawal of the export tax.

 

"We feel that we can get this duty withdrawn," Joshi said.

Finance Minister Arun Jaitley is expected to present the country's annual budget on February 28.