Metalnewsnet 3 Feb:

Source noted that India steel ministry intends to levy 20% export tax on kinds of iron ore, but it has not been confirmed by India steel ministry and finance ministry.

India steel ministry has been suggested government to rein in iron ore export to ensure the future expansion of the domestic steel industry. In December of 2009, India government adjusted export duty on power ore from zero to 5%, from 5% to 10% on lump ore. Except the restriction on the iron ore export, India steel ministry also suggests to control the illegal mining of natural mineral resource.

The global financial crisis in 2008 led steel mills to reduce production, iron ore demand fell and India iron ore export decreased, India financial ministry announced to cancel the export tariff on powder ore and reduce duty to 5% on lump ore on December 7 of 2008. With the soaring demand of China in 2009, India iron ore export recovered apparently, therefore, India steel ministry proposes to increase export duty on iron ore.

India exported about 106mln tons of iron ore in 2009, most of them was shipped to China.

(From alibaba)