REVIEW OF IRON ORE EXPORT POLICY
Date : 16 May 2007
Location : New Delhi
Vaisakha 26, 1929
Government has not of late reviewed or revised the iron
ore exports policy, Minister of State for Commerce Shri Jairam Ramesh informed
in a written reply to a question in the Rajya Sabha today.
The existing iron ore exports policy regulates and
promotes judicious use of iron ore for domestic purpose and export of surplus
quantity. Production of iron ore is in excess of current domestic demand.
Besides, the surplus iron ore fines, produced during mining as well as sizing
and calibrating lumpy ore has to be evacuated through enabling exports as there
is meager demand for it by domestic steel industry. Its accumulation would lead
to curtailment of production resulting in unemployment predominantly in tribal
areas, increased cost of production, reduction in economic activities and export
earnings in addition to causing environmental hazards, he said.