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India - Karnataka iron ore export ban still in place despite relaxing of mining laws.
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The decision by India’s supreme court to relax the ban on iron ore mining in the southern state of Karnataka will have little or no effect on international iron ore prices as it is still illegal to export the raw material from the region, sources told Metal Bulletin.
“Karnataka’s government has to decide what will happen to iron ore exports from the state,” Noor Ahmed, president of the Bellary-Hospate Sector Iron Ore Mine Owners & Suppliers Assn, told Metal Bulletin. There is no indication yet of a move by the state government to allow ore exports, according to Ahmed, who is also a partner in Trident Minerals. “I doubt if [partially lifting the ban on mining] will have any immediate effect, even on domestic prices, because the ore that will be mined will have to be sold through the auction process. There cannot be any negotiated sales between parties,” Ahmed added.
Source: Metal Bulletin
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