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  • gqart68 gqart68 Jun 3, 2011 12:48 PM Flag

    K'taka to allow exports within 15 days

    Karnataka to allow iron ore exports within 15 days
    PTI | Jun 3, 2011, 03.36pm IST
    Read more:Karnataka mining|iron ore exports|Federation of Indian Mineral IndustriesNEW DELHI: Iron ore exports from Karnataka is likely to resume within a fortnight from the state, a senior official said.

    "The consignments should resume very soon... may be within a fortnight's time," Karnataka's department of mines director HR Srinivasa told reporters here on the sidelines of a conference on iron ore.

    Karnataka, which accounts for about one-fourth of total iron ore export from the country, had banned transportation of the mineral for exports purposes from the state in last July.

    However, following an order of the Apex Court on April 5, it had agreed to lift the ban and had asked for 15 days time to raise the required infrastructure to check illegal mining in the state.

    Since then, the state government had first banned all mining operations in May for carrying out Supreme Court directed survey and demarcation (S&D) activities. Later, it was revoked for those mines which do not fall under the survey and demarcation exercise.

    On May 6, the apex court had directed to form a special team to carry out survey and demarcation exercise in 99 mining leases in the Bellary-Hospet-Sandur region, which has a total of 118 mines.

    However, exports of the iron ore is yet to begin from the mineral-rich state.

    As a result of the ban on exports by Karnataka, iron ore exports from India have declined by about 18 per cent to 85.43 million tonnes between April, 2010 and February, 2011, a data compiled by industry body, Federation of Indian Mineral Industries (FIMI) showed.

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    • Great time to get in (back in) now. Mgt does not inspire confidence (for that matter, no Indian or Chinese does these days) but I would expect a nice climb for this one over the next 2 years - Indian and Chines growth stories not going away and a rising tide lifta all boats.

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