According to India’s Budget 2016-17 announced on Monday, February 29, India has decided to remove the export tax on low grade iron ore fines and lumps.
The 10 percent export tax on iron ore fines with Fe content below 58 percent and the 30 percent export tax on iron ore lumps with Fe content below 58 percent will be reduced to zero.
The move aims to help the mining industry amid softening global commodity prices.