High quality iron ore from Chaibasa is shipped to China and other countries

Chaibasa, Nov. 25: Iron ore mining at Chaibasa has gathered a large number of buyers.

Iron ore from the Chaibasa mining region ? comprising parts of Jharkhand and Orissa ? has many takers in the global market and two ports in eastern India stand to benefit the most from this trend.

In the past couple of years, several millions of tonnes of high quality iron ore from Chaibasa have been shipped from Haldia in West Bengal and Paradip in Orissa to China and other countries.

The president of the Eastern Zone Mining Association and industrialist, Nand Lal Rungta, today said, ?The ports in eastern India had not been doing well for a long time. Their fortunes swung after ships started transporting high quality iron ore from Chaibasa.?

Earlier, the Mines and Material Trading Company (MMTC) used to export iron ore to foreign countries. In 2000, the Centre allowed private players to enter the field creating a golden opportunity for businessman here.

China has, Rungta said, has emerged as one of the biggest foreign markets for Indian iron ore. The 2008 Olympic Games will be held there and they need iron ore to set up the required infrastructure. ?China prefers India for its iron ore supply mainly because of proximity factor. On the other hand, Australia has reduced their export due to a rise in domestic consumption,? Rungta said.

Government undertakings like Steel Authority of India (SAIL) and Indian Iron and Steel Company (IISCO) export quality iron from other ports of the country as well.