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Our Bureau

New Delhi , April 20

THE Directorate General of Foreign Trade (DGFT) would over the next few days issue licences for export of high-grade iron ore with ferrous content of 64 per cent and above.

Speaking to newspersons on the sidelines of a meeting on gems and jewellery exports, the DGFT, Mr K.T. Chacko, said that the quantity of exports that would be permitted would be "somewhere around the same vicinity as those allowed last year".

Further, Mr Chacko indicated that the Government might, from an overall perspective, look at framing a long-term policy for iron ore exports as announced by the Commerce Minister some months ago.

Under the extant policy, iron ore with ferrous content of less than 64 per cent can be exported without any licences. However, exports of ore with ferrous content of 64 per cent and above are permitted only through licence or through MMTC.

During April-March 2004, India had exported about 62 million tonnes of iron ore.

Meanwhile, when asked about the reported rejection by the Commerce Ministry to Posco's proposal linking long-term commitment to export iron ore for setting up $14-billion steel plant in Orissa, a senior official of the Commerce Ministry held that this was an issue that remained primarily in the domain of the Department of Industrial Policy and Promotion in consultation with the department of minerals and ores.

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