Iron ore export duty cut proposed
Iron ore export duty cut proposed
Published: 07:51 am Feb 20, 2016
NEW DELHI: India’s mines ministry wrote to finance ministry on Friday proposing cutting export duty on high-grade iron ore to 10 per cent from 30 per cent, Mines Secretary Balvinder Kumar said, as shipments tank amid a crash in prices. “Exports have fallen drastically and there are stocks of 126 million tonnes in three states,” he said. “Prices are so low that exports are not viable.”