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In a shortsighted move, the Federal
Cabinet announced its decision to
allow state-owned MMTC Corp to export
high quality iron ore to China, Japan,
and Korea; the only good news of the
order is that it reduced the quantity
of iron ore that it can export. The
Government allowed MMTC to enter into
long term agreements up to 5 years to
export 2.7 million tons (mt) down from
3mt of lumps and 1.81mt of fines down
from 3.8mt.
The Bailadila mine in Chhattisgarh from
where the iron ore will be exported
has iron content of 64%.
Govt to Control Export of High Quality Iron
Ore
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