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Construction : Exclusive Report | November 2012 | Source : Construction Update

Fimi expects decline in ore export

RK Sharma, Secretary General of Federation of Indian Mineral Industries (Fimi) expects exports of iron ore to decline in 2012-13 because of various reasons like high export duty of 30 per cent and differential freight rate charged on iron ore for domestic and export use by the Indian Railways.

Further, the ban on mining in Karnataka may reduce iron ore export from the country in the current financial year. Reports suggest that ore exports may decline to about 45 million tonne (mn t) in 2012-13, which would be 62 per cent less than the all-time high of 117 mn t exported in 2010-11 and 37.7 per cent less than the last financial year's 62 mn t.

Meanwhile, it is learnt that Industrial Development Corporation Of Orissa plans to sell ore fines at Bhubaneswar and for this purpose it is looking out for buyers. Similarly, National Mineral Development Corporation is looking out for buyers of ore fines extracted from its Bailadila mines.

In another development, Kudremukh Iron Ore Company (Kiocl) is looking out for a contractor for clearing manual un - loading and handling of iron on fines.

 
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