| | |
Iron ore output in Karnataka will likely resume in July, Mines Minister Dinsha Patel said on Tuesday, after what will have been a year's hiatus due to a government and judicial crackdown on illegal operations.
Patel said initial production from the southern state would go to local steel mills, but a resumption of mining means the world's third-biggest supplier of iron ore could hope to regain its USD 6 billion, 100 million tonnes average annual exports, mainly to China, in 2012/13.
"In two to three months mining should happen, I believe the problem will be resolved by July," Patel told Reuters in an interview, adding exports from Karnataka should then follow. He did not give a timeframe for such shipments.
ADS BY GOOGLE
video of the day
Mkt resilient at current level; bullish auto: ICICI Pru AMC