NEW DELHI: The mines ministry today said it has no plans to cap the prices of iron ore as there is no shortage of the key steel-making raw material.
It also said the country is looking at expanding the iron ore production and that will take care of market dynamics.
“There is no shortage of iron ore and at present there is no thinking in the mines ministry of capping of iron ore prices,” Mines Secretary Arun Kumar said at a press conference here.
“Mines of ministry does not have a plan of fixation for iron ore prices. They (Mines Ministry) are the administrative ministry,” Kumar said.