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The situation in India is reversed from March, when it was reported the amount of iron ore handled by India's ports more than doubled in the period between April 2016 and January 2017.
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Supplies from India amounted to percent of China's total imports in 2011, but were already disrupted by a mining ban in Karnataka, India's biggest iron ore producing state.
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David Trotter, Anglo American's global head of iron ore sales, told a conference in Vienna that India now represent 15% of the company's portfolio or about six million tonnes a year.
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To improve availability of iron ore for the local steel producers, the GOI in March 2016 enhanced and unified the rate of export duty for all types of iron ore (other than pellets) at 20 percent; earlier a 15 percent export tax was applicable on lumps and 5 percent on fines.
The post Surging US steel helps iron ore price to 9month high appeared first on [.] Barrick could trade copper mines for gold ones to expand Tier 1 assets The combined miner plans to focus on Tier 1 assets, those producing at least 500,000 ounces of gold annually, with a mine life of more than 10 years and low costs.