CITU opposes GoM's proposal of extorting Haematite

New Delhi, July 7 (UNI) The Centre of Indian Trade Union (CITU) today expressed serious concern over the reported proposal of Group of Ministers (GoM) to continue with the present policy of exporting iron ore and reiterated its demand for immediate ban on export of Haematite (high) grade iron ore, which is mostly used in Indian steel plants.

The Steel Minister's statement in Parliament that with the known reserves of Haematite iron ore, at present 7.6 billion tonnes, the steel plants can survive only for few years after 2030, the party said in a statement.

CITU also pointed out that the National Steel Policy, which envisages a goal of 110 million tonnes (MT) steel production in 2010-2020, would require 190 MT of Haematite iron ore to achieve this production target.

This is an attempt by vested interests to confuse the issue by combining the reserve of Haevatite and manganese iron ore to project a rosy picture of available iron ore reserves as a whole, knowing fully well that Manganese iron ore which constitutes more than 40 per cent of the iron ore reserves is not used for steel making in the country, the statement said.

UNI