China offers iron ore deal with India Press
Monday, 25 February 2008

Trust of India . Beijing

China has proposed a long-term agreement with India for importing iron ore to meet its growing demand of the mineral. 'They proposed a long term agreement.

We have not responded to it,' India's steel ministry secretary JS Sarma told reporters in Beijing. China made the proposal during a meeting between officials from India's steel ministry and the chinese ministry of commerce.

Sarma said the Chinese officials informed that Beijing had long-term arrangements with Australia and Brazil, with prices not being fixed, and wants to enter into a similar agreement with India.

The meeting was also attended by officials of China's top economic planner National Development and Reforms Commission and Sinosteel, largest steel trading company in that country.

Sarma said India had significant reserves, but it wants to preserve as much as possible.

Steel maker in India have been, for long, demanding reduction in iron ore exports to ensure a secured supply of the mineral.

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