The Minister of Steel, Mr Beni Prasad Verma has said that NMDC Limited produced 27.3 million tonnes and supplied 26.91 million tonnes of iron ore to domestic industries during the year 2011-12, which is around 16% of the country’s total production of iron ore of 169.66 million tonnes (provisional) and around 23% of the total estimated consumption of about 116.3 million tonnes of iron ore by the domestic iron and steel industry.

Besides NMDC, there are many other public and private sector iron ore mining companies, which supply iron ore to the iron and steel industry in the country.

In a written reply in the Lok Sabha the minister said, the production of iron ore in India is in excess of the total estimated domestic consumption by the iron and steel industry. However, to improve availability of iron ore to domestic iron and steel industry at affordable price, the Government has increased the export duty on iron ore from 20% ad valorem to 30% ad valorem on all grades of iron ore (except pellets) with effect from December 30th 2011.

Source - PIB

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