Economic Times : Mining companies should look for opportunities overseas
Source: Economic Times / IANS
May 19, 2010
At the same time the government has taken policy measures to “discourage avoidable exports of iron ore and consequently raise domestic availability by increasing export duty on lump ores to 15 percent and having a 5 percent duty on fines. Although this will have a marginal impact on exports, "the government would have to look at the question differently by bringing in definitive deterrence," Singh said.
"If needed, we will resort to taxation measures and quantitative restrictions to conserve the use of iron ore for today and for the future, but such measures can be brought in a phased manner with a clear long-term plan."
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