The restrictions on Karnataka iron ore industry is impacting socio-economic growth of the state.
Karnataka is the only state in India to impose such restrictions on the exports of iron ore and without any alternate avenues for miners to sell their iron ore.
NMDC, a government of India owned mineral producer, has reduced its iron ore price by Rs 500 per tonne (Rs 300 per tonne in Karnataka and Rs 200 per tonne in Chhattisgarh), which has reduced the iron ore price in Karnataka to Rs 3,233 per tonne for Fe 62.5 grade iron ore.
Karnataka, is losing heavily to the tune of Rs 8,000 crore per annum because of the disparities, is staring at a further loss of Rs 700 crore per annum due to restrictions on the trade of iron ore and price reduction by NMDC.
(With inputs from IANS)
