MMTC CHAIRMAN CONGRATULATES CM FOR REVIVAL OF IRON ORE INDUSTRY

September 17, 2015 …. Minerals and Metals Trading Corporation Limited (MMTC), Chairman and Managing Director, Mr Ved Prakash, congratulated Chief Minister of Goa Mr Laxmikant Parsekar, for making commendable efforts to revive the iron ore industry in Goa.

Mr Prakash along with his Chief General Manager, Mr P K Das, Additional General Manager Mr A F Sequeira, former MMTC official Mr K A Narasimhan paid a courtesy visit to CM office on tuesday at Ministers complex, Porvorim, Panaji.

While recalling the efforts of CM to reduce the export duty to 10 per cent from 30 per cent in respect of low grade Iron Ore,  Mr Prakash congratulated CM for early start of mining in Goa and reviving the iron ore industry that has crippled after the prolong ban in Goa.

Mr Prakash appraised the brief profile of MMTC to CM and its various activities to promote international trade in various sectors.   

MMTC being a pioneer in export of various  minerals for last five decades and also being Canalized Agency of Government India for higher grade iron ore (+64% FE) volunteered its service to assist Goa Government to dispose the large chunk of iron ore lying along various operational areas of mines, jetties and port. 

MMTC also assured the Goa government to offer its service for facilitating marketing of Goan iron ore at best possible price in international market in very transparent and time bound manner.

Obliged with delegations visit and MMTC’s service, CM along with Chief Secretary, Mr R K Srivastava, Director of Mines and Geology, Prasanna Acharya, requested the MMTC to officiallysubmit a proposal , where in the Government of Goa could explore the possibility of moving ahead.

CM appreciated the proposal of MMTC to assist the Goa government to market iron ore at international to revive the iron ore industry.

MMTC was established in 1963, MMTC, PSU under Ministry of Commerce, Government of India is one of the two highest foreign exchange earners for India, is a leading international trading company with a turnover of around US$ 5 billion.

It is the largest international trading company of India and the first Public Sector Enterprise to be accorded the status of “FIVE STAR EXPORT HOUSE” by Government of India for long standing contribution to exports.

MMTC is major global player in the minerals trade and is the single largest exporter of minerals from India. With its comprehensive infrastructural expertise to handle minerals, the company provides full logistic support from procurement, quality control to guaranteed timely deliveries of minerals from different ports, through a wide network of regional and port offices in India, as well as international subsidiary.

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