<article><p class="lead">The Indian government has imposed a 50pc export tax on all grades of iron ore, in a move that is likely to effectively end the country's exports of the steelmaking raw material.</p><p>The higher tax is effective 22 May, India's finance ministry said today. </p><p>Iron ore with a Fe content of more than 58pc was already subject to an export duty of 30pc that made it unviable to export. But the government has now imposed a 50pc tax on iron ore and concentrates, non-agglomerated and agglomerated, implying that all grades will now be subject to the higher duty. </p><p>Iron ore pellet exports are now taxed at 45pc, the finance ministry said. Pellet exports were previously not subject to any taxes.</p><p class="bylines">By Deepali Sharma</p></article>
