Long-term policy on iron ore soon

摘要

India, the world's third-biggest iron ore producer, is framing a long-term policy on exports of the raw material used to make steel, a top government official said on Wednesday. Under the existing policy, India allows free export of iron ore with a ferrous content of less than 64 per cent, but a licence is needed for selling high grade iron ore. The domestic iron and steel industry has been urging the government to stop exports of iron ore with a high ferrous content as they say several steel plants depend on the ore and reserves are limited.