Steel ministry roots for 30 percent duty on iron ore exports

New Delhi : The steel ministry will soon write to the finance ministry demanding to hike export duty on iron ore to 30 percent from the current 20percent, a move to ensure that there is no shortage of the raw material for the domestic steel makers in the long-run.

"A proposal in this regard has been cleared by Steel Minister Beni Prasad Verma. It will now be sent to the finance ministry for its approval and implementation," a source close to the development told PTI.

The proposal has also kept in mind the deteriorating level of country's raw material reserves, the source added.