Wednesday, June 19, 2024

Budget 2023-24: Miners’ body seeks withdrawal of export duty on bauxite

Miners’ body FIMI has sought withdrawal of export duty on bauxite, stating that the move will lead to optimum utilisation of low-grade mineral resources as it will expedite reopening of closed bauxite mines, create jobs and earn foreign exchange.

Bauxite is the principal ore of aluminum and therefore the mineral is the essential raw material for aluminium producers.

“The export duty of 15 per cent on bauxite is detrimental to the Indian non- metallurgical bauxite producers and exporters…This Federation therefore request for complete withdrawal of export duty on exports of bauxite,” FIMI said in its pre-Budget proposals to the finance ministry.

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