Responding to concerns from
environmental groups, domestic
steel businesses, and
manufacturing houses, the
federal government had imposed
an export duty of Rs. 300 per
ton but Chinese importers are
boycotting Indian ore
demanding exporters absorb the
duty.<More>
Mining Policy to Attract
FDI
(December 13, 2006)
A new mining policy is being
formalized aiming to attract
more foreign direct investment
(FDI) through joint ventures
which is now only USD 150
million and the new target
investment value is Rs.
100,000 crore (USD 22.22
billion) in the next 2 years.<More>
Demands to Phase-Out Ore
Export
(November 24, 2006)
The Federal Steel Ministry, at
variance with the Mining and
Commerce Ministries, demanded
that iron ore exports be
phased out since “current ore
reserve is slated to last only
60 to 70 years” and this
policy could jeopardize the
stability of domestic steel
units.<More>
Y-on-Y Industrial Growth
Higher
(October 13, 2006)
An upsurge in manufacturing
took cumulative industrial
production from April-August
to 10.6 compared to 8.7 last
year and August saw a 9.7%
rise compared to 7.6% but
lower than July’s growth of
12.7% but analysts say that
consumer demand has not
slacked.<More>
No Ore Exports Say CMs
(August 28, 2006)
The Chief Ministers (CMs) of
Karnataka,
Chhattisgarh, and
West Bengal (WB),
have written to Prime
Minister Manmohan Singh
opposing proposals to
liberalize iron ore exports
warning disastrous effects
on the fast growing Steel industry
<More>
Commies Want Halt in Mineral Exports
(July 11, 2006)
Communist allies of the Federal
Government demanded an immediate stop
to indiscriminate export of minerals,
particularly iron ore as mineral
deposits were exhaustible and wanted a
halt in moves to liberalize export of
minerals.<More>
Ore Export Cut to Japan, Korea
(July 03, 2006)
Ministry of Commerce Additional
Secretary Christy Fernandez announced
fresh agreements where export of iron
ore to Japan and Korea will be cut by
50% to a maximum of 6.78 million tons
(mts) this fiscal year.<More>
Steel Projects Suffer as Govt Plans Ore Export
(May 17, 2006)
Major steel projects announced largest year with much
publicity have reportedly not started because of
administrative difficulties and iron ore supply issues
while the Government plans to export high quality Iron
Ore to China and Japan.<More>
Governments approves Iron Ore Exports
(May 01, 2006)
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.<More>
Govt to Control Export of High Quality Iron Ore
(March 16, 2006)
Government is likely to control the export of high
quality iron ore to build domestic reserves so a
string of major steel projects can achieve their
targets.<More>
100% FDI in Mining
(January 18, 2006)
The Federal Minister of State for Coal and Mines
Dasari Narayana Rao said that a Group of Minister (GoM)
has recommended allowing 100% Foreign Direct
Investment in mining.<More>
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