India needs to scrap iron ore export tax as prices sink – miner Sesa

(Reuters) – India needs to swiftly remove a tax on iron ore exports, the country’s top private miner of the commodity said, calling the duty an “economic barrier” in the face of falling global prices.

The country’s iron ore shipments have already slowed to a trickle after a ban on mining in key producing states, with a 30 percent tax on exports making it even more difficult to sell to a world market where prices have sunk 40 percent this year.

Read more at:

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s