Sesa Sterlite expects 5.5 MT iron ore exports by March

Mining firm Sesa Sterlite said it aims to achieve its target of 5.5 million tonnes (MT) iron ore exports by March next year. Vedanta, which owns Sesa Sterlite, has named the falling global prices of iron ore as one of its biggest challenges. "Vedanta's Iron Ore division expects to mine 5.5 million tonnes of fresh iron ore from its mines in Goa.

The low grade ore is not used by domestic steel makers, and most of it will be exported by March 2016," Kishor Kumar, chief executive officer (CEO) of Vedanta's Iron Ore division, said. "We also are faced with an arduous task of recovering our fixed costs and look forward to a complete utilisation of the manpower and resources," he said. The London-listed Vedanta owns Sesa Sterlite which is Goa's largest iron exporter.