Vedanta expects its iron ore exports from Goa to be much higher than its permitted mining capacity of 5.5 million tonnes in the fiscal year to March, as it bids for ore in government-run auctions.
The country's biggest private miner has resumed operations in Goa following a three-year gap after court action against illegal mineral extraction closed mining in the country's top iron ore exporting state.
Vedanta, a unit of metals tycoon Anil Agarwal's Vedanta Resources (VED.L), is in the process of shipping 88,000 tonnes of the steelmaking ingredient to China, with other customers there eager for cargoes, said a company spokesman. That could stoke a global iron ore glut that has hit prices hard.
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