Rising fear of nationalization, increasing costs for mineral sand producers in India

摘要

Indian mineral sand exporters will incur a higher cost of production beginning from this week, as part of a broader "canalization" scheme, which many participants say is, in practice, the partial nationalization of the industry. The new standard operating procedures, which were distributed to Indian mineral sand exporters on Thursday September 6, explain that producers are now required to submit details such as the mineral being sold, a foreign buyer's name, the selling price, quantities and a profile of the selling company to government-owned corporation IREL when exporting mineral sands.