India Achieves Significant Growth in Metal Production for FY 2024-25
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Synopsis
India has reported substantial growth in the production of key minerals including iron ore, manganese ore, bauxite, and lead during the financial year 2024-25, following record levels in FY 2023-24, as announced by the Ministry of Mines.
Key Takeaways
- Iron ore production increased by 4.4% to 263 MMT.
- Manganese ore jumped by 12.8% to 3.4 MMT.
- Bauxite output rose 3.6% to 22.7 MMT.
- Lead concentrate production grew by 3.5% to 352,000 tonnes.
- India is the second-largest aluminium producer globally.
New Delhi, March 30 (NationPress) The production of essential minerals like iron ore, manganese ore, bauxite, and lead in India has showcased significant growth during the financial year 2024-25, following record output levels achieved in FY 2023-24, as per a statement released by the Ministry of Mines on Sunday.
The output of iron ore, which constitutes 70% of the total mineral production by value, rose to 263 million metric tonnes (MMT) between April and February of FY 2024-25, compared to 252 MMT during the same timeframe in FY 2023-24, indicating a growth of 4.4%, according to official statistics.
In the complete financial year of 2023-24, the production totaled 274 million metric tonnes (MMT).
Manganese ore production experienced a remarkable increase of 12.8%, reaching 3.4 MMT in FY 2024-25 (April-February) as opposed to 3.0 MMT in the prior year’s comparable period, while the output of bauxite also saw a rise of 3.6%, totaling 22.7 MMT in the current financial year’s 11 months, up from 21.9 MMT in FY 2023-24.
Additionally, lead concentrate production increased by 3.5%, achieving 352,000 tonnes during this period in FY 2024-25, up from 340,000 tonnes in FY 2023-24.
In the non-ferrous metal segment, primary aluminium production during the first 11 months of FY 2024-25 grew by 0.9% compared to the previous year, rising to 3.836 million tonnes (LT) from 3.800 LT in FY 2023-24. Meanwhile, refined copper production surged by 7.1%, increasing from 4.64 LT to 4.97 LT.
India ranks as the second largest producer of aluminium globally, stands among the top 10 producers of refined copper, and is the fourth largest producer of iron ore worldwide. The ongoing increase in iron ore production this financial year underscores robust demand in the steel industry, a primary consumer of these metals.
Alongside the growth in aluminium and copper, these trends indicate continued strong economic activity in consumer sectors such as energy, infrastructure, construction, automotive, and machinery, the statement concluded.
