Financial Daily from THE HINDU group of publications
Monday, Feb 13, 2006
Financial Daily from THE HINDU group of publications Monday, Feb 13, 2006 |
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Logistics
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Interview Industry & Economy - Exports & Imports `Export of iron ore fines should be encouraged' — Mr H.C. Daga, Senior President, Essel Mining & Industries
What is India's total export of iron ore? In 2004-05, iron ore exports were about 78 million tonnes, likely to go up to 85-90 mt this fiscal. Do you support the demand for restriction on iron ore export? I sincerely feel that the export of iron ore fines should be encouraged. Why? The reason is simple. There is hardly any use of fines in our country, as a result of which they already account for more than 80 per cent of our exports. Could you please explain a little? More than 70 per cent of our ore production is in the form fines having limited domestic demand. This is because 60 per cent of the ore production is in the form of fines and another 10-12 per cent lumps get reduced to fines during conversion of lumps into CLO (calibrated lump ore which is used in steel-making) and also during handling, loading and unloading. The fines cannot be directly charged in the blast furnace for steel-making. They have to go through the process of agglomeration. Why don't you go for agglomeration to make the fines suitable for steel-making? The preferred way of agglomeration is pelletisation, but there are problems in setting up pellet plants in our country due to low gas availability and high fuel cost. The cost-efficient technology is yet to arrive in our country. Besides, the kind of fines ideally suited for a pellet plant — high Fe content but low alumina and silica content — is not readily available here. Also, a pellet plant is highly capital-intensive and has long gestation period. What do you suggest? No restrictions should be imposed on the export of iron ore fines till a proper domestic market for it is developed.
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