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Iron ore shortage, if any, due to Odisha's faulty policy: FIMI

Refuting allegations by steel makers of a shortage in domestic iron ore supply, miners body FIMI has said a paucity in some regions is not because of the inability to produce more but due to a faulty policy of Odisha state.

India's iron ore exports down 28% to 11.17 MT in Apr-Dec

India's iron ore exports have gone down by 28.16 percent during April-December of the current fiscal to 11.17 million tonnes (MT) as gloom continues over the sector due to the present regulatory scenario, mineral industries body FIMI said today.

Stung by curbs, iron ore firms throw in the towel

Top trader MMTC`s $80 million iron ore export terminal, ready since 2010, has never handled a cargo. Now the company wants to spend $16 million to convert the terminal to ship coal.

India set to become net iron ore importer this fiscal: FIMI

India is all set to become a net importer of iron ore in the current fiscal on dipping exports following lower production due to mining ban in some states and higher duties, Federation of Indian Mineral Industries (FIMI) on Tuesday said.

Cancellation of Category-C mines in Karnataka too harsh: FIMI

Mining industry body FIMI has termed today's Supreme Court order of cancelling all the 49 leases in category C mines in Karnataka as "too harsh" and indicated that it may seek a review of this part of the order.

Iron ore exports fall by 68% during Apr-Jan period: FIMI

The country had exported 515.19 lakh tonnes of iron ore in the corresponding period in the last financial year.

FIMI writes to Rajan seeking roll-back of export duty on ore

In a letter to Raghuram G Rajan, Chief Economic Advisor to the Ministry of Finance, FIMI said higher export duty coupled with exorbitant freight charges have led to a steep fall in exports of ore which has drastically come down from 117.37 million tonnes (MT) in 2009-10 to 61.74 MT in 2011-12.

FIMI fears vested interests in US, Europe stalling big projects

Miners' body FIMI fears "vested interests in the US and Western Europe" are stalling big projects like South Korean POSCO's USD 12 billion steel mill and Vedanta's USD 1.7 billion plans and has sought Prime Minister Manmohan Singh's intervention in the matter.

Roll back 30% duty on iron ore exports: FIMI

Mineral producers' body FIMI Monday demanded a roll back of the export duty of 30 percent on iron ore exports, stating that about 92 percent of the exportable ore is of lower grade and cannot be used by the domestic steel companies.