The government of the western Indian state of Goa has applied to the Indian federal government seeking exemption from the 30 percent export tax levied on medium grade iron ore fines, a Goa government official said on Friday, November 3.
The official said that low grade iron ore fines are not finding any takers overseas and Goa is burdened with an unsold stocks amounting to about 15 million mt, even at current low international prices of iron ore. He also said that, while iron ore fines with Fe content of less than 58 percent is exempted from the export tax, the Goa government has communicated to India's Ministry of Mines that iron ore fines with Fe content in the range of 58-60 percent should likewise be exempted from the export tax.