Indian iron ore exports soar in 2016

Indian iron ore exports soar in 2016

India’s ports saw a huge increase in the amount of iron ore handled in the period between April 2016 and January 2017, with shipments doubling compared to the same period in the previous year.

The country’s 12 major ports handled a total of 38.61 million tonnes of iron ore, with just 14.37 million tonnes shipped from April 2015 to January 2016, an increase of 169%.

This meteoric rise can be largely accounted for by the resumption of production from India’s top iron mining state of Goa in 2015, after extensive bans had been put in place across the state between 2012 and 2016.

In this four-year period, iron ore output fell by 9.4% every year across India, however the rise in iron ore handling across the nation docks, confirmed by a recent report by the Indian Ports Association, has analysts confident the nation is well on the way to a revived mining industry.

A global surge in steel output has also been replicated in India, with the world number three producer recording output increases of 12% year-on-year.

@RGNonline