Mining industry disappointed as FM retains duty on exports of pellets

Investment of over Rs 35000 cr may be put on hold by industry

Finance minister P Chidambaram's move to retain 5 per cent duty on export of pellets has deeply disappointed the iron ore mining industry. The industry, which was expecting duty withdrawal in the interim budget 2014-15, said the industry might consider closing down existing units and put on hold investment to the tune of over Rs 35,000 crore.