Iron ore exports may decline 28% this year

According to R K Sharma, secretary general of the Federation of Indian Mineral Industries (Fimi), total exports are likely to slump to around 70 million tonnes (mt) this financial year, due to fall in production by major private mines

Total exports from India declined 17 per cent to 97.65 mt in the financial year 2010-11 as compared to 117.37 mt in the earlier financial year. Iron ore supply to domestic steel and downstream sector units was also hampered due to miners unwilling to continue excavation as domestic steel mills do not lift low-grade fines.

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