| Date: |
29-05-2010 |
| Subject: |
China mine acquisitions won't hit Indian iron exports' |
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The acquisition of iron mines in Madagascar by Chinese companies is unlikely to affect Indian ore exports to China, as the bulk of Indian exports consist of high quality ore, which is only available in Australia and Brazil, besides India.
India, along with Brazil and Australia, have the high-grade quality iron ore needed for manufacturing high-end steel products and China only has to access it from these three countries, Deep Banerjee, Vice-President of the Essar group in China, told PTI here today.
He said he is not aware of any curbs being imposed by China on ore imports following the acquisition of some mines in Africa and does not see it as a threat to Indian ore exports, which form the bulk of India's exports to China.
Source : ptinews.com
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