India’s MMTC renews iron ore supply contracts with Japan and South Korea

India's Ministry of Commerce and Industry has announced that the Indian government has approved the request of the state-run Minerals and Metals Trading Corporation of India (MMTC) to renew its long-term iron ore supply contracts with Japanese and South Korean enterprises.
 
In 2006, MMTC signed five-year iron ore supply contracts with enterprises in Japan, South Korea and China, all of which expired at the end of March this year.
 
In line with the new contracts, MMTC will deliver fine ores and lump ores with iron content of over 64 percent to Japanese enterprises and South Korean steel producer POSCO during the period from April 2011 to April 2014.