Growth in India's iron ore consumption is expected to outpace production, the Australian Department of Industry, Innovation & Science said in its Resources & Energy Quarterly report on Monday April 9.
The department expects a slowdown in domestic production amid the "cancellation of mining permits in Goa due to renewal issues and the suspension of seven mines in Odisha for non-payment of illegal mining fines." The permit cancellations relate to about 40 million tonnes per year of iron ore for India's domestic and overseas markets. Last week, India's top court permitted the transport of royalty-paid iron ore...