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The government has no plans to ban export of iron ore but conservation of the steel-making raw material is of "paramount importance", Parliament was informed today.
To a written question in Lok Sabha on if the government proposes to ban export of iron ore having over 64% "Fe content" for the benefit of domestic steel firms, Minister of state for Steel and Mines Vishnu Deo Sai said," No. Madam."
"The Government has decided that although conservation of iron ore resources is of paramount importance, the same may not be achieved by banning to capping export of iron ore but taking recourse to appropriate fiscal measures," he said.
Iron ore exports attract 30% duty.
The government is deliberating upon the concept of Special Mining Zone to have speedy development of resources like iron ore and coal. It would facilitate procedural requirements for exploitation of minerals without unnecessary restrictions, he said.
Replying to a separate question, the Minister said there were 5,028 non-working mines in the country as on April 1, 2014.
