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The government was examining the issue, including iron ore export data and small steel producers’ demands, the sources, who are directly involved in decision-making, told Reuters.
India's potential tax cut on iron ore exports could double its shipments of the steelmaking ingredient in the current year compared with industry estimates.
Speaking at the annual general meeting of miners' body Federation of Indian Mineral Industries (FIMI), mines minister Dinsha Patel said he would also urge the railways ministry to reduce the freight for transportation of fines for export as well.
A two-year old ban on iron ore exports from Karnataka which has halved shipments from the world's No. 3 supplier will take centre stage at an industry gathering in Bangalore this week as pressure mounts to lift the restriction.
Commerce Minister Anand Sharma ruled out a ban on iron ore exports, saying the surplus mineral "must be exported".
Iron ore exports from India, the world's third-largest supplier of the steelmaking material, will be less than 100 million tonnes in the next fiscal year starting April if prices stay at current levels, a top executive at Sesa Goa said on Wednesday.
The Supreme Court has adjourned the hearing of a ban on iron ore exports from Karnataka to March 4, court orders showed on Friday.
The much awaited initial public offer (IPO) is likely to roll out in the next three to four months, said Sushil K Maroo, Director and Group CFO of Jindal Steel & Power (JSPL). The IPO is targeting to raise Rs 7200 crore.
The Supreme Court has put back to mid-February a decision on lifting a ban on iron ore exports from Karnataka and asked the state to draw up new rules for when the current ban expires at end-Jan, lawyers said on Thursday.
