Karnataka ore miners suffer as imports surge; threat of job cuts looming

Iron ore imports to Karnataka from other states have gone up 68 per cent in July to 1.55 million tonne (mt) from 0.92 mt in June. This is mainly owing to steel companies, including JSW Steel, relying more on imports for their mills in Karnataka. Higher import had led to losses for mines, production piling up and now a threat of job cuts is looming. This has also brought down the price by 10-15 per cent in the state, say local miners who called for restriction of imports. The controversy started in April when mills reduced their purchases from the auction which is the only route for.....

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