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India to ban export chrome ore to China

Reportedly, India’s Steel Ministry concerned over the depleting reserves of chrome ore, called for a complete ban of its export earlier this month.

The ministry warned that the country may soon run out of the costly element for steel manufacturing if it failed to block exports.

It is said that India had roughly 50 million tons of charge chrome grade ore but the country’s reserves have depleted approximately 38 million tons.

The Indian government, which had until now enforced several restrictions against exporting chrome ore, is now calling for a total ban for the first time.

India’s announcement came months after South Africa, the world’s largest exporter of chrome, said it wanted to ban chrome exports to China.

The National Union of Mineworkers in South Africa in September called for urgent restrictions on chrome exports, especially to China.

The union said China was stockpiling chrome, mainly sourced from South Africa, to dictate future market prices, adding that of the 8 million tons of chrome ore imported by China in 2010, about 3.1 million tons were sourced from South Africa.

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