Tuesday, July 20, 2010

Iron Ore News; Chhattisgarh Chief Minister Calls For Export Ban

Iron Ore News; Chhattisgarh Chief Minister Calls For Export Ban

The Indian state of Chhattisgarh is to seek a ban on the export of iron ore.
The state’s Chief Minister, Raman Singh, told the IANS news agency that he was re-iterating calls for a ban, which he first made six years ago.

“It is not a wise decision at all to hand over the country's limited natural resources,” Chief Minister Singh said.

“Export of iron ore is a kind of crime against the nation because the country's limited stocks are getting exhausted everyday. It must be preserved for domestic steel industry which is on a massive expansion.”

The call came ahead of a meeting of a 10-member ministerial panel headed by the country’s Finance Minister Pranab Mukherjee this Thursday to consider a new bill for the development and regulation bill of mines and minerals.

India is the world’s third-largest iron ore supplier, exporting around half of its 226 million tonne annual output but calls for a ban have grown in the wake of reports of illegal exports of iron ore, especially from Karnataka. Left-wing parties this week called for a ban while the country’s Steel Minister, Vir Bhadra Singh is also in favour of a ban.

Steel Minister Vir Bhadra Singh last week came out in favour of a ban, saying the country should conserve its precious minerals and export value-added products.

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