With the Chinese market trend posing a serious question about the sustainability of mining exports, many operators could go out of business, leaving only the serious players in the field. Our Bureau Bangalore, Oct. 9 Declining iron ore demand in China and the 15 per cent export duty could be a blessing in disguise for the exporters, especially those in Goa, who are battling challenges from environment activists. Industry sources feel that the “China impact” could lead to some introspection in the industry. According to the Federation of Indian Mineral Industries, the downward trend started about two months ago with rising exports of cheaper ore from Australia and a higher Indian export tax, raising questions about India’s competitiveness to stay in the market. India exported about 93 million tonnes of iron ore in the fiscal...
[read full story]
Your Web Site
