Mineral Policy Issues in the Context of Export and Domestic Use of Iron Ore in India
AbstractThis study examines the utilization of iron ore in India. It takes into account the significant reserves of iron ore in India and allays fears that the country's steel industry will run out of iron ore resources if exports continue at the current level. On the contrary, it says that exports are necessary to maintain a structural balance in the market between production and consumption of lumps and fines as nearly 80% of exported ores are fines which are not adequately used in India. This study also highlights the specific problems of the Goa/Radi region. It examines the bilateral agreements with countries like Japan and Korea as well. The study says that the size of mineral resources is a dynamic concept and depends on exploratory efforts, which have not been enough in India due to lack of investments. It recommends on the basis of international experience that increased investment in the mineral sector, especially in exploration, will lead to new reserves and resources.
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Bibliographic InfoPaper provided by East Asian Bureau of Economic Research in its series Energy Working Papers with number 22159.
Date of creation: Jan 2008
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Export of Iron Ore; Mineral Policy; Domestic Consumption; Steel Industry;
Find related papers by JEL classification:
- Q31 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Demand and Supply; Prices
- Q34 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Natural Resources and Domestic and International Conflicts
- Q38 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Government Policy (includes OPEC Policy)
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