"As per available information, India has sufficient resources of iron ore, estimated at 25.25 billion tonnes, which continues to increase," Minister of State for Mines T Subbarami Reddy told the Lok Sabha in a written reply.
He said export of minerals in India continues to be guided by government's Exim Policy, which regulates and promotes judicious use of iron ore for domestic purpose and export of surplus quantity.
Making it clear that there is no move to curb iron ore exports, Minister of State for Commerce and Industry Jairam Ramesh told the House that government has not taken any decision to reduce iron ore exports.
"Government permits export of iron ore with iron content up to 64 per cent without canalisation," he said. According to figures revealed by Reddy, export of iron ore has been progressively increasing during the past three years.
In 2004-05 it was 78.14 million tons, while it rose to to 89.27 MT in 2005-06 and 93.11 MT in the last fiscal. He said chief ministers of mineral-rich states have sought to retain the right of giving preference in granting mineral concession in the interest of developing the backward regions and the issue was being considered by the government.
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