Commerce Ministry to oppose iron ore export ban
Post Date: 08 Aug 2011 Viewed: 570
NEW DELHI: Anticipating a demand for a ban on iron ore exports, the commerce department has said it will oppose any such suggestion that could sharply drive down domestic prices and pare export earnings.
The Supreme Court, which last week banned mining in Bellary, had directed the environment ministry to find out the iron ore requirement of the domestic industry and the current levels of exports from the steel and commerce ministries.
"We will point out in our inputs to the environment ministry that a complete ban would suppress domestic prices of iron ore," a commerce department official told ET.