Mineral Production on Growth Track

The production of key minerals in India, such as iron ore and limestone, has continued to show robust growth in the first quarter (Q1) of the financial year (FY) 2024-25. This growth follows record production levels achieved in FY 2023-24.

1. The Ministry of Mines published mineral production data in Quarter 1 of FY 2024-25.

Key points:

Robust Growth in Mineral Production:

1. Key Minerals: Iron ore and limestone account for about 80% of the total Mineral Concession Development Rules (MCDR) mineral production by value.

Production Levels in FY 2023-24:

1. Iron ore production was 275 million metric tonnes (MMT).
2. Limestone production was 450 MMT.

Non-Ferrous Metal Sector:

1. Primary aluminium production in FY 2024-25 (April-June) posted a growth of 1.2% over the corresponding period last year, increasing to 10.43 lakh tonnes (LT) from 10.28 LT in FY 2023-24 (April-June).

India's Ranking in Mineral Production:

1. India is the 2nd largest aluminium producer, 3rd largest lime producer, and 4th largest iron ore producer in the world.
2. Odisha is the largest aluminium ore and iron ore producing state in India. Rajasthan has the highest share of limestone production in India.
3. Mineral production was reported from 19 States, with the bulk of the value of mineral production of about 97.04% confined to 7 States only.
   1. Order of mineral production by share: Odisha (44.11%), Chhattisgarh (17.34%), Rajasthan (14.10%), Karnataka (13.24%), Jharkhand (4.36%), Madhya Pradesh (2.44%), and Maharashtra (1.45%).
   2. Remaining 12 States have a cumulative share of less than 3% of the total value.

Growth Trends and Economic Activity:

1. The continued growth in the production of iron ore and limestone in the current financial year reflects robust demand conditions in user industries such as steel and cement.
2. Coupled with growth in aluminium, these trends point towards continued strong economic activity in sectors such as energy, infrastructure, construction, automotive, and machinery.

Specific Growth Figures for Q1 FY 2024-25:

1. Iron Ore:

   1. Production increased from 72 MMT in FY 2023-24 (April-June) to 79 MMT in FY 2024-25 (April-June), showing a 9.7% growth.

2. Limestone:

   1. Production rose from 114 MMT in FY 2023-24 (April-June) to 116 MMT in FY 2024-25 (April-June), with a 1.8% growth.

3. Manganese Ore:

   1. Production jumped by 11% to 1.0 MMT in FY 2024-25 (April-June) from 0.9 MMT over the corresponding period of the previous year.

Conclusion:

The robust growth in mineral production, particularly in iron ore, limestone, and aluminium, reflects strong demand and economic activity in key sectors. As India continues to be a major global producer, these positive trends indicate a promising outlook for the mineral sector, supporting sustained growth and development in the coming quarters.

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