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Government of India
Ministry of Steel
27-August-2012 16:12 IST
Export of Iron Ore
GOVERNMENT OF INDIA

The Minister of Steel, Shri Beni Prasad Verma has said that the details of iron ore and finished steel produced, consumed and exported during each of the last three years are given below:

Finished Steel

Year

Production

for sale

Real

consumption

Export

(in million

tonnes)

(in million

tonnes)

Quantity (in

million tonnes)

Value (in

Rs. crores)

2009-10

60.62

59.34

3.25

13821.09

2010-11

68.62

66.42

3.64

17511.40

2011-12 (provisional)

73.42

70.92

4.04

19921.78

 

Iron Ore

Year

Production

Domestic

consumption

Export

(in million

tonnes)

 

(in million

tonnes)

 

Quantity

(in million

tonnes)

Value

(in Rs. crores)

2009-10

218.55

90.62

117.37

41794.85

2010-11

208.00

111.40

97.66

41295.86

2011-12

(provisional)

169.66

116.30

61.80

Not

available

 

 

(Source: For finished steel - Joint Plant Committee; Ministry of Steel, For production and consumption of iron ore – IBM, Ministry of Mines; For export of iron ore – MMTC, Department of Commerce.

In a written reply in the Lok Sabha today Shri Verma said, Iron ore is in deregulated sector and decision regarding export of iron ore is taken by individual companies/ miners in terms of the Foreign Trade Policy notified by the Ministry of Commerce and Industry, from time to time. The production of iron ore in the country during the year 2011-12 was 169.66 million tonnes (provisional) as against the total estimated consumption of about 116.3 million tonnes of iron ore by the domestic iron and steel industry, whereas about 61.8 million tonnes of iron ore was exported.

 

He said, profits and turnover of steel companies depend upon a number of factors such as source of raw materials, scale of operation, cost of manpower, etc., of which supply of iron ore is only one of the factors.  Steel Authority of India Limited (SAIL) is meeting full requirement of iron ore of its Bhilai Steel Plant and Vishvesvaraya Iron and Steel Plant, Bhadravati from its captive mines.  Production of iron ore in India is in excess of the total estimated domestic consumption by the iron and steel industry of the country.

 

The Minister said, to discourage export of iron ore and to improve availability of iron ore for the domestic iron and steel industry at affordable price, the Government has increased the export duty on iron ore from 20% ad valorem to 30% ad valorem on all grades of iron ore (except pellets) with effect from 30.12.2011.

 

***

NSK/DB