Surge in Production of Essential Minerals from April to January '24-25

Synopsis

The production of essential minerals in India has shown significant growth from April to January FY 2024-25, following record levels in FY 2023-24. Key minerals such as iron ore, manganese ore, and bauxite have all recorded increases, indicating strong demand in various industries.

Key Takeaways

Iron ore production increased by 3.5% to 236 MMT.
Manganese ore output surged by 11.1% to 3.0 MMT.
Chromite production rose by 8.7% to 2.5 MMT.
Bauxite production saw a 5.6% increase to 20.6 MMT.
Aluminium production grew by 1.2% to 35.10 LT.

New Delhi, Feb 27 (NationPress) The production of several essential minerals in the country has experienced significant growth during the 10-month span from April to January in FY 2024-25, following record levels achieved in FY 2023-24, as stated in an official announcement made on Thursday.

The output of iron ore, which represents 70 percent of India’s total mineral production value, reached 274 million metric tonnes (MMT) in FY 2023-24 and has further increased in the current financial year.

According to provisional statistics, the output of iron ore has risen from 228 MMT in FY 2023-24 (April-January) to 236 MMT in FY 2024-25 (April-January), marking a robust growth of 3.5 percent, the statement noted.

Moreover, the production of manganese ore has surged by 11.1 percent to 3.0 MMT in FY 2024-25 (April-January), up from 2.7 MMT during the same timeframe last year, while chromite production has increased by 8.7 percent to 2.5 MMT from 2.3 MMT.

In addition, bauxite production has risen by 5.6 percent to 20.6 MMT in FY 2024-25 (April-January) compared to 19.5 MMT in the previous year.

In the non-ferrous metal realm, primary aluminium production for FY 2024-25 (April-January) has grown by 1.2 percent over the same period last year, climbing to 35.10 lakh tons (LT) from 34.67 LT. Similarly, refined copper production has seen a growth of 7.4 percent from 4.19 LT to 4.50 LT during this timeframe.

India stands as the 2nd largest producer of aluminium, ranks among the top-10 in refined copper production, and is the 4th largest producer of iron ore globally.

The sustained increase in iron ore production in the current financial year indicates strong demand in the steel industry, which relies on it as a fundamental raw material. Coupled with the growth in aluminium and copper, these trends suggest ongoing robust economic activity in sectors such as energy, infrastructure, construction, automotive, and machinery,” the statement concluded.