Iron ore utilisation policy in the works

New Delhi : The government is formulating an iron ore utilisation policy on the lines of a similar policy currently operating in the domestic gas sector. The move, fuelled by concerns over improper exploitation and wastage, coupled with huge exports of the major mineral out of the country, is likely to include prioritising consuming sectors. “The basic idea is to check the current huge exports of fines out of the country and ensure conservation of the mineral by cutting wastage, especially of low-grade ore, in the absence of enough value-addition capacity," a senior official close to the development told Business Standard.

The overall blueprint of the policy is being prepared as part of the New National Steel Policy, currently being drafted by the steel ministry.