FIMI seeks reduction in India’s iron ore export duty

The Federation of Indian Mineral Industries (FIMI) has requested a reduction in export duty on low grade iron ore, according to media reports.
 
The FIMI is urging the Indian government to reduce the export duty on iron ore to five percent from the current level of 30 percent, indicating that the high duty rate makes exports almost impossible.
 
The Indian government increased the export duty on iron ore fines and lumps from five percent to 20 percent in March 2011, then raising it to 30 percent in January 2012.