The Indian government is not ruling out the option of banning iron ore exports from the country, minister of steel Dharmendra Pradhan indicated on Friday, November 20.
In an interaction with industry stakeholders and replying to a specific query on the possibility of the imposition of a ban on iron ore exports, he said, “It is a good suggestion to ban exports. We are talking to various stakeholders. We are concerned over supplies and talking to miners and state-run NMDC and Odisha Mineral Development Corporation.”
Steel company representatives present at the interaction pointed out to the minister the “unprecedented rise in the price of iron ore and that recently the auction of fresh mining leases to several iron ore mines were not operational, as a result of which several steel mills have barely a 15-day consumption equivalent of the raw material.”
