Domestic miners seek export duty abolition on iron ore up to 62% Fe content

The mines industry has sought abolition of the 30 per cent export duty on iron ore with up to 62 per cent ferrous content. It wishes to export the surplus stock.

At present, there is nil export duty on ore with up to 58 per cent ferrous content. Federation of Indian Mineral Industries (Fimi) and Goa Mineral Ore Exporters Association have both sought the duty abolition. In a presentation to the central government, Fimi has said: “Since there is no domestic demand for iron ore up to 62 per cent Fe, the only alternative is to export.” Due to slowdown