China prominently features in a probe report on illegal iron ore mining in Goa, which warns that while the eastern neighbour is gobbling up India‘s iron ore reserves, the future might see a reversal of the trend.
The Justice M B Shah Committee’s exhaustive report has pegged Goa’s mining scam at nearly Rs 35,000 crore. “Planning and conservation of iron ore for at least 50 years is required for Goa so that future generations may not be required to import entire steel from China and likewise countries,” the report said.
It added that while India was exporting ore to China, China was exporting steel back to India and had strategically stopped short of tapping its deposits of 200 billion tonnes and the Centre should consider banning exports.
“It would not be out of context to state here that though China is having reserve of more than 200 billion tonnes iron ore, it prefers to import from countries like India and others. The ministry of mines, steel, commerce and industries have to sit together to give serious thought for banning export or in the alternative to permit minimum export of iron ore from the country,” the report said.Times of India
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- The market irony: Steel production rises, but iron ore prices plummet (shippingtribune.com)
- Goa mining scam worth Rs 34,935 crore: Justice Shah Commission (vancouverdesi.com)
- BRICS Countries Consider Central Bank (chinadailymail.com)
Categories: Mining & Energy