Iron ore export ban in Karnataka may take longer to lift
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It is thought that the lifting of the ban on iron ore exports in the southern Indian state of Karnataka will take longer than expected following the resignation of Karnataka chief minister B.S.Yediyurappa, amid allegations that he and other key officials caused $3.6 billion in lost revenues due to illegal iron ore exports.
Karnataka accounts for about a quarter of iron ore shipments from India, the world's No. 3 supplier of the steelmaking raw material after Australia and Brazil.
Karnataka banned iron ore shipments in July last year to curb illegal mining and has yet to issue export permits, despite an order from India's Supreme Court to lift the ban in April.