Indian Supreme Court rules in favour of iron ore exports

Photo: Supreme Court of India

Key ruling India’s Supreme Court has decided to allow exports of iron ore from key mines in the country’s southern state of Karnataka.

The latest ruling enables direct sales of iron ore as opposed to e-auctions, according to the information obtained by local daily Busi-ness Standard.

“It is submitted that consecutive e-auctions have been receiving poor response. Looking at the overall change, restrictions on sale of ore and restrictions on prices need to be removed. We grant appellants permission to sell already excavated iron ore stock etc in three Kar-nataka districts. Permission is granted to appellants to allocate iron ore by entering into direct contracts without resorting to e- auction. Iron ore produced in Karnataka can be exported but in terms of Gov-ernment of India policies,” the judges said in their ruling.