India Considers Lifting Iron Ore Ban

Reuters reported an industry gathering in India will discuss a two-year old ban on iron ore exports from India’s southern Karnataka state.

As quoted in the market news:

Karnataka, where iron ore mining is also severely limited, has been the poster state for India’s efforts to crack down on illegal mining.

But, coupled with India’s moves to raise export taxes, it is also a reflection of the country’s efforts to conserve the steelmaking ingredient and boost its own steel industry that makes only around a tenth of what top producer China makes in a year.

Click here to read the full Reuters report.