Opposing export of iron ore, B Muthuraman, managing director of Tata Steel, today said India should use natural resources judiciously and conserve them for future projects."Natural resources are limited in quantity. All the industrialised nations conserve their own reserves, and, in fact, import from countries that have lesser utility for them," Muthuraman said.He added that India was poised towards industrialisation, and it was even more imperative now for the country to use its iron ore reserves more judiciously."The demand for ore is going to rise manifold in the years to come. Since the resources are limited, we should conserve our resources and not open them for use by people whose sole purpose is to have control over them,"Muthuraman said.To a question on the process of auction for allocation of coal blocks, he said: "Strategic things are seldom auctioned. Auction is a process adopted only when you don't worry about the buyer. Auction is not the right process when you want things to go to the right people."Echoing similar views, Naveen Jindal, MP and chief of Jindal Steel, said coal blocks and ore reserves should go to investors who would do value addition or establish plants."The reserves should not go into the hands of those whose sole purpose is to sell it again for the purpose of making money," Jindal said.
