The Hindu quoted Mr Narendra Kumar Baldota CEO of MSPL as saying that "The mining fraternity was hoping that the apex court would pronounce orders in favor of the mining industry."

Mr Baldota said that "International iron prices have been skyrocketing and Karnataka is unable to take advantage of the same. While we are willing to sell the produced ore locally, but the consumption patterns are not in line with international demand."

Mr Baldota was of the view that permitting of export of ore stocked near the ports, was no relief as over 95% of the stock would be kept at the mine stock yards for want of adequate space.

Contrary to the anticipation of all exporters that the Supreme Court would pass order on revival of iron ore trade in the state, it had given a deadline to Government of Karnataka that they notify new transportation rules by March 31st 2011 and in the mean time permitted export of iron ore, stocked near the ports.

(Sourced from www.thehindu.com)