Sesa Goa Reports 80% Drop in Iron Ore Sales

Platts reported that Indian miner Sesa Goa said its iron ore sales during the April 2012-March 2013 fiscal year dropped 80% compared to the previous year, to 3.1 million metric tons.

As quoted in the market news:

The company attributed the declines to mining bans in place in the southern Indian states of Goa and Karnataka, where all of its Indian iron ore operations are based. The mining ban in Karnataka has been in force since August 2011, while the one in Goa took effect September 2012.

Click here to read the full Platts report.