November 16, 2017 / 1:53 PM / in 9 months

India's mines ministry may recommend cut in iron ore export tax - sources

NEW DELHI, Nov 16 (Reuters) - India’s mines ministry may recommend reducing or scrapping of the 30 percent export tax on medium-grade iron ore due to a persisting surplus in the country, according to two sources and a document reviewed by Reuters.

Indian mining industry has for months lobbied for a cut in the export duty as the country is saddled with a surplus of around 149 million tonnes as on March 31 and a senior government official said the inventory is still hovering around that range. (Reporting by Neha Dasgupta; Editing by Nidhi Verma)

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