Delhi to host first “International Conference on Iron Ore and Freight”

Delhi to host first “International Conference on Iron Ore and Freight” The 2 days conference to provide a common platform to discuss India’s iron ore policies to Indian and Chinese industry delegations   About 60 Chinese delegates mainly iron ore importers, traders and steelmakers are coming to India to understand first hand India’s iron ore policy, including possibility of rollback of export duty on iron ore, and resumption of iron ore export from Karnataka.  Understand the impact of 20% Exports Tax on future of Indian Iron ore exports...? Get an update on "Karnataka Iron ore exports ban and issues being faced by exporters in Orissa and Goa...? Understand the future demand for iron ore fines and lumps in India & International markets...? Know why demand for Cape-size vessels is surpassing that of superhandy espe-cially in Goa and forecast for Indian freight...? Understand the role of financial instruments with an insight into the  iron ore futures market...? Role of Japan in future, in terms of rising demand... Coming to attend a two-day annual conference on Iron Ore and Freight from 03 June 2011 in New Delhi organized by Ore Team, the Chinese delegates would assess with other participants the impact of 20% tax on future of exports from India and understand the problems prevailing in Karnataka and Orissa. The key speakers for this 2 days conference include Mr Peng Gang, Economic & Comm. Counsellor, Chinese Embassy in India, Mr Lamon Rutten, MD & CEO, MCX, Capt Sunil Thapar, Director - Bulk & Container, Shipping Corporation of India, Shri Srinivasa H R, I.A.S, Director General Mines, Bangalore, Karnataka, Mr Prakash Tatia, President Welspun Maxsteel Ltd, Mr Nyati, CFO, FIMI, Mr Apoorva Misra, Head Finance & Accounting, FKPL, Goa, Dr A.S. Firoz, Chief Economist, Economic Research Unit,  Ministry of Steel, Govt of India, Mr Chirag Shah, Director,MF Global Securities India Ltd, Ms Gabrielle Richou, Marketing Director, IOSDA “If export duty on iron ore is not reduced, then we would like to know what impact it is going to have on future of Indian iron ore exports,” said a leading Chinese steel mill owner coming to attend the conference. Indiabeing the third largest exporter of iron ore to China exported close to 100 million tones of ore to China in 2010. Till date in the initial four month of 2011, China imported nearly 230 million tonnes from suppliers worldwide, of which India’s share was a mere 12%. The quality of the exported ore ranges from 48% Fe to 65%Fe depending on the requirement. However, low grade iron ore with 58% Fe content or less from Goa is shipped to China where it is blended with the high grade iron ore before processing. Some miners in Goa have started blending high grade and low grade iron ore. Mr. A K Verma, Director OreTeam,  the organizer of two-day annual conference on Iron Ore and Freight, says, “It  will help in strategizing a strong vision to address the issues in Iron Ore trade in terms of new government policies & freight variances as it is an ideal stage between the key influencers and decision makers under one roof” About 300 delegates are attending the Conference which will also discuss the latest up date on Indian ports and Railway infrastructure and its competitiveness, forecast of Indian freight and growing demand of cape-size vessels. For further media information kindly contact Nisha @ 9811651210  : Regional Public Relations                                      Prakash @ 9811088233 :                                                                  

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