The Hindu : Karnataka News : China keen on importing more iron ore from India

Online edition of India's National Newspaper
Wednesday, Sep 22, 2004

Karnataka

Karnataka

China keen on importing more iron ore from India

By Our Staff Reporter

BANGALORE, SEPT. 21. China is keen on importing more iron ore from India, H. Abdul Wahab, president of the Federation of Indian Mineral Industries, has said.

Addressing presspersons here on Monday, Mr. Wahab said that he led a team of Indian delegates to Beijing to participate in the India-China Ferrous Minerals Summit held between September 1 and 3.

He said of the 400 delegates, 250 were from India. "Because of the quality, availability and proximity, they want to import iron ore from India."

`Delegation coming'

Mr. Wahab said that a delegation from the steel and mineral industries sector of China would visit India shortly.

"We feel this visit will facilitate many long-term agreements and joint-ventures between the two countries. The increased production in India will bring profits for the Railways, ports and the transport industry," he said.

Policies

Mr. Wahab said that there were huge opportunities for promotion of exports of raw material, iron and steel, and other metals. Consistent policies on imports and exports were needed so that long-term commitments were sustained in a way that gave mutual benefits to both the countries.

He said the geographical proximity of India with China had helped it overcome the competition from countries such as Brazil and Australia.

Mr. Wahab said that the world iron ore production grew significantly from 938 million tonnes in 2001 to 1,099 million tonnes in 2003. India had produced 36 million tonnes of steel while China's production crossed 230 million tonnes. The iron ore production in India was 120 million tonnes of which 62.6 per cent was exported to countries such as Japan, South Korea and China. Export from Hospet and Bellary in Karnataka alone was 15 million tonnes, worth Rs. 3,000 crore.

Deforestation

Answering questions on deforestation owing to mining, Mr. Wahab said mining in a scientific manner would not pose any threat to the environment.

The destruction of forest because of mining was only one per cent.

More damage was done because of illegal mining, he added.

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