What is the advantage or incentive for iron ore mine owners to export?
The biggest advantage in exports is you can under-bill. On account of the exports, the local industry does not get preference. In our case, JSW Steel is land-locked in terms of location. We are very far from the port and have to depend on local iron ore By under billing on exports, the money finds its way in real estate etc. Steel companies are professionally run companies. We invest money into the company. The term ‘mine-owner’ itself is wrong because the mines are owned by the Government. However, the government earns a very small amount unlike the mine operator who pockets most of the gains. The workers in the mines work under terrible conditions. They are underpaid and not provided basic things like even shoes to wear while on the mines. What if mine allotments are given to new players in the state? We are following archaic laws, which is The Mines Act of 1952 where miningleases are granted on a `first-come, first-serve’ basis, I strongly believe before giving any allotment to new
