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Indian traders hit by iron ore curbs exiting industry

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Struggling: An Indian freight train carrying iron ore. Bans on iron ore mining and exports in India's top producing states of Karnataka and Goa are choking the industry. - REUTERS FILE PHOTO

[SINGAPORE] Top Indian trader MMTC's US$80 million iron ore export terminal, ready since 2010, has never handled a cargo. Now the company wants to spend US$16 million to convert the terminal to ship coal. Bans on iron ore mining and exports in India's top producing states of Karnataka and Goa