BENGALURU: The Federation of Indian Mineral Industries (FIMI), Southern Region, on Monday urged the Central and State governments to remove restrictions on iron ore trade in Karnataka.
Shantesh Gureddi, vice-president, FIMI & Chairman FIMI, Southern Region, said, “The existing iron ore mining operations in the state are not viable with cap on production and e-auction mechanism leading to unfair valuation of iron ore which is almost 200 per cent lower in Karnataka compared to international prices.”
FIMI Southern Region member Sauvick Mazumdar said, “The lower price for Karnataka iron ore and restrictions on the trade are reducing the contribution towards the District Mineral Fund. It is important to bring in suitable policy reforms to enhance ease of doing business.”