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Orissa halts issuing permits for iron ore exports through 2 ports

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BHUBANESHWAR (Commodity Online): The Orissa government has reportedly stopped issuing iron ore export permits for cargoes shipped through two ports in Andhra Pradesh.


"We will not issue the permits until they (the port authorities) submit details and tell us what system they have”, Reuters quoted a senior official of the steel and mines department. Both Ganagavaram and Kakinada are believed to have been affected due to their lack of cooperation with the authorities.


Earlier, the state government had banned close to 27 firms from exporting Iron ore outside India in order to ensure the availability of the same in the local markets. Mine officers were also informed informally not to issue Transit Passes for trucks carnying iron ore for the purpose of exporting the same.


These actions follow the arrival of the 8 member M B Shah Commission, the national illegal mining investigating agency. The commission had arrived on last Wednesday to probe into the alleged mining scam in the state.


In November, Chief Minister Naveen Patnaik had written a letter to the the PM stating that banning iron ore exports “will not only bring down domestic prices of iron ore but also encourage local industries to invest in technologies to utilise the iron ore fines presently being exported, besides ensuring that mining activities are regulated and sustainable”

MCX COTTON 29 mm 31 May 2012 contract was trading at Rs 18750 , down Rs. -130 . What's your view on it?
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