According to an insider at
India's largest privately-owned
iron ore producer and exporter Sesa Goa, although
India's Karnataka state has lifted its ban on
iron ore exports,
iron ore export activity from the state has remained suspended as the Karnataka government has not yet issued transportation permits.
Influenced by Karnataka state's ban on
iron ore exports, it is anticipated that Sesa Goa's overall
iron ore exports could drop by 15-16 percent in the fiscal year 2011-12. The interruption of
iron ore exports from Karnataka caused Sesa Goa's net profit to decrease by 36 percent year on year in the quarter ended on June 30 this year.
Sesa Goa previously announced that it plans to increase its
iron ore output capacity to 50 million mt by March 2013.