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Mr Lakshmi N. Mittal, President and CEO, Arcelor Mittal, favours restricting exports of superior grade of iron ore while allowing exports of the not so good grade of ore.

Answering questions from Indian journalists in Luxembourg last week, he said: "My view is that we have plenty of iron ore but we should restrict iron ore export of the higher Fe (iron) but lower Fe iron ore we should allow exports."

It may be recalled that Chief Ministers of three mineral rich States - Chhattisgarh, Jharkhand and Orissa - wrote to the Centre in December 2006 asking that iron ore exports be frozen at the current levels and gradually reduced. The Indian steel industry has also been asking for a ban on iron ore exports and instead wants domestic manufacture of steel to be encouraged to ensure that value addition happens within the country. However, the Anwarul Hoda committee appointed by the Planning Commission to come up with a minerals and mining policy recommended lifting of qualitative and quantitative restrictions on iron ore exports.

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