Exports of low grade iron ore from the western Indian state of Goa surged by 240 percent to 12 million mt during the April-February period of the financial year 2016-17 (ends March 31), compared to the corresponding period of the previous financial year, according to government data.
According to an official in the Goa government, the sharp upturn in export shipments of low grade iron ore fines from Goa was the result of the firming up of international prices and demand and of local mines operating at maximum capacity usage.
The official said that, at current capacity utilization of existing operational mines in Goa, the state will close the current fiscal year on March 31 with total iron ore production of 20 million mt, the maximum permissible cap set by the Indian Supreme Court.