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The country's iron ore exports continued their downward trend and saw a decline of 18.60 per cent to 10.13 million tonnes for February 2011 as against 12.54 million tonnes in February last year.
Export data compiled by the Federation of Indian Mineral Industries (FIMI) revealed that shipment for the April-February period declined by 18 per cent to 85.43 million tonne as against 104.1 million tonne in the corresponding period last year. Total exports in 2009-10 stood at 117.37 million tonnes.
A ban on exports imposed by Karnataka to curb illegal mining in last July is said to be the key reason for the decline.
FIMI expects the exports to slow down further as the Union Government has increased the export levy on iron ore four fold to 20 per cent in the Budget 2011-12.
The duty on iron ore fines has been increased from 5 per cent to 20 per cent, whereas on iron ore lumps it has been increased from 15 per cent to 20 per cent.
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