Indian miner Sesa Goa’s iron ore output falls in Q4 FY 2010-11 due to export ban

Indian iron ore producer Sesa Goa Ltd has announced that in Q4 FY 2010-11 its iron ore production amounted to 5.49 million dry mt - down 21 percent compared to the corresponding prior period, due to the state-wide export ban in Karnataka since the end of July 2010, and termination of the third party mining agreement in Orissa in November 2010. Sesa Goa's iron ore production for the full year was marginally lower at 18.8 million mt.
 
The Indian Supreme Court recently issued a ruling that the Karnataka export ban is to be lifted from April 20, 2011. The final hearing of the case is expected in the first week of May this year.
 
Meanwhile, Sesa Goa's sales of iron ore amounted to 6.65 million mt in Q4 as compared with 6.55 million mt in the corresponding prior quarter. Sales for the year were 18.14 million mt, compared with 18.39 million mt sold during the prior year.
 
Sesa Goa also said in its statement that its iron ore capacity expansion program is on track for completion by the end of FY 2012-13.Expansion of its pig iron capacity to 625,000 mt and the associated expansion of metallurgical coke capacity to 560,000 is progressing well for commissioning by Q3 FY 2011-12.