India prevents two firms from exporting iron ore

India prevents two firms from exporting iron ore

Indian government has prevented two companies from exporting iron ore after conducting an investigation at four major ports. Upon the complaints with respect to illegal iron ore exports, Indian Directorate General of Foreign Trade and Export Inspection Council conducted an investigation at the four major ports and determined that two firms had exported high-grade iron ore with iron content more than 64% without a license. As previously reported by SteelOrbis, India's iron ore export policy allows export of iron ore less than 64% Fe content under Open General License (OGL), while iron ore above 64% Fe content is allowed to be exported under a license. No information on the identity of the companies has been given.