India has approved the renewal of contracts by Metals and Mineral Trading Corporation (MMTC) to supply high-grade iron ore to Japanese and South Korean mills for a five-year term ending 31 March, 2023. The agreements set the quantity to be exported to Japan at between 3 million tonnes and between 800,000 tonnes per year, while South Korea's POSCO may import 4.3 million tonnes and 1.2 million tonnes. India has been exporting iron ore to Japan since 1963 and to South Korea since 1973.
India has approved the renewal of contracts by Metals and Mineral Trading Corporation (MMTC) to supply high-grade iron ore to Japanese and South Korean mills for a five-year term ending 31 March, 2023. The agreements set the quantity to be exported to Japan at between 3 million tonnes and 4.3 million tonnes per year, while South Korea's POSCO may import between 800,000 tonnes and 1.2 million tonnes. India has been exporting iron ore to Japan since 1963 and to South Korea since 1973.