The range of quantity of iron ore to be exported would be from a minimum of 3.8 million tonnes per annum to 5.5 million tonnes per annum, it added. According to the ministry, the high grade "+64% Fe" content iron ore will be supplied to Japanese and Korean steel mills from the state-run NMDC's Bailadila mines in Chhattisgarh. The existing policy of single-agency operation and exports through MMTC, with a trading margin of 2.8 per cent of free on board (FOB) price, will be continued, it said. "Export of iron ore under the LTAs would help to strengthen India's bilateral ties with long-standing partner countries, Japan and South Korea," the statement added. (IANS)