India’s top court allowed shipments of iron ore accumulated at ports in Karnataka
India’s top court has allowed the shipments of iron ore from the Karnataka ports. The Supreme Court has issued its long awaited verdict over this ban on exports of the steelmaking raw material from Karnataka.
The state is known to be the second-largest producer and exporter of iron ore in the whole nation. Finally the court has given green signal to the ports in the state.
Meanwhile the director of the Federation of Indian Mineral Industries, David Pichamuthu has informed that around 400,000 metric tons of iron ore are lying at the ports of Karnataka. He has welcomed the Supreme Court’s order and has said that, it is a very positive move from the top court.
Earlier, on 19th November, 2010, the Karnataka high court has upheld the provincial government’s decision to stop the export of iron ore from the ports of the state. The main reason of such halt is to lowering the prices of the material in local markets and to make it available sufficiently. The miners in the state had appealed against the ban to the Supreme Court.
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