Vedanta Limited has welcomed the decision taken by union minister Arun Jaitley to reduce the export duty on low grade iron ore produced in Goa. Jaitley on Thursday announced a reduction on the export duty on iron ore less than 58 grade to 10 per cent from the earlier 30 per cent.

Vedanta Limited, Iron Ore Business, CEO, Kishor Kumar said that reduction in export duty is a shot in arm for the Goan iron ore industry that produces mostly a low grade iron ore. As steel makers in India can use very small quantity of Goa's low grade iron ore, most of the Goan produce has to be exported.

"It is in the interest of one lakh mining dependent families who were rendered jobless for nearly three years," Kumar added.

Source:timesofindia.indiatimes.com