Indian iron ore production is likely to see a modest 10% growth in 2015 as more mines would start operations in Karnataka, Goa and Odisha in the coming months.
As per a Business Standard report, the iron ore production, which recorded a marginal growth to touch 140 million tons in 2014, is expected to touch 150 million ton to 155 million ton in 2015.
“All the mines closed in Odisha, Goa and Karnataka are unlikely to open this year. We can expect some mines to start operations in Goa only by September. There are many challenges in all these states. In Karnataka, government approvals are limping. There may not be any big growth in the domestic production but we can hope to achieve last year’s levels or see marginal growth,” said Mr Basant Poddar VP of Federation of Indian Mineral Industries.
However, the mining industry is looking forward to some positive developments in 2015. The renewal of leases in Goa, formation of new government in Jharkhand, issuance of clearances and permits in Odisha and restarting of mines including auction of Category-C mines in Karnataka are expected in 2015.
“In 2015, India is likely to completely vanish from the export market as the prices have been very low. Unless the government withdraws export duties at least on low-grade iron ore, we cannot export from India any-more,” Poddar added.
Zhejiang Yaang Pipe Industry Co., Limited