Ban iron ore exports; conserve it like US, China: Steel Minister - Economic Times

NEW DELHI: Steel Minister Virbhadra Singh today called for a ban on iron ore exports saying that the country must take lessons from neighbouring China and the US for using finite natural resources judiciously.

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India has world's fifth largest estimated reserves of iron ore at about 25 billion tonnes, of which only a fraction is minable. During the last fiscal, India produced 218 million tonnes of which more than half was exported.

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Contrary to Steel Minister's views, industry body FIMI is opposed to moves aimed at banning iron ore exports saying that the country does not have the capacity and capability to utilise the domestic iron ore fully.

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Ban iron ore exports; conserve it like US, China: Steel Minister - Economic Times