India to emerge as iron-ore powerhouse: BHP

By agencies   |   Tuesday, 20 September 2005, 07:00 Hrs
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SYDNEY: WorldÂ’s third largest iron ore miner, BHP Billiton Ltd. Plc. today said India can emerge as the world's third largest supplier of iron ore provided it repaired its industry.

BHP Billiton Country President Don Carroll said India has emerged as a net iron ore exporter since it produces more ore than its domestic consumption adding as India improved its mining technology and steel making capacities, its net reserves of ore were rising.

"We believe India could easily double its iron ore reserves," Carroll said.

"But India would benefit from a move away from some 120 small mining companies, each producing around two million tonnes per annum," Carroll said.

"From a company perspective, India is a very important market for us," Carroll said.

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