September 2015 Analysis

Industry Trend Analysis - India's Iron Ore Production To Be State-Led - SEPT 2015

Though the MMDR bill has paved the way to the restart of iron ore mining operations in India, production from restarted mines will be tepid due to high costs, low prices and a poor export market. India's growth in iron ore production will instead be led by state-owned entities. We forecast that mine production will grow by an average of 3.8% y-o-y over 2015-2019.