MMTC Official Puts Levels Similar To Last Year
A senior official in a state-run Indian company says he expects the country to export around 100 million tonnes of iron ore in the current financial year, which began in March.
"India's iron ore exports in 2010-11 are expected to be about 100 million tonnes," MMTC Chairman and Managing Director Sanjeev Batra told reporters on Friday.
The country exported about 105.67 million tonnes of iron ore in 2008-09, and figures for the last financial year are expected to have been in a similar range in the last financial year, Federations of Indian Mineral Industries Secretary General R K Sharma said.
Mr Sharma added that the recent increase in export duty on iron ore lumps to 15 per cent from 10 per cent may reduce its exports by 50 per cent. India exported around five million tonnes of iron ore lumps during 2008-09.
The export duty on iron ore fines, which comprises the bulk of iron ore exports, is 5 per cent.
Mr Batra also said that MMTC is likely to import 200 tonnes of gold in the current financial.
India's total gold imports for 2009-10 were 739 tonnes, of which MMTC imported 190 tonnes.
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