October 15, 2024 23:42 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Election Commission announces dates for Maharashtra and Jharkhand assembly polls | Setback for Mamata govt as Calcutta HC allows Bengal junior doctors' carnival in Kolkata | Apologise to Bishnoi community: BJP MP's advice to Salman Khan after Baba Siddique's murder | Bishnoi Gang is connected to agents of India govt: Canada police's claim | Canada PM Trudeau repeats charge against India amid soaring bilateral tension over Khalistani row
Mining sector registers record production in FY 2023-24
Photo Courtesy: Unsplash

Mining sector registers record production in FY 2023-24

| @indiablooms | 03 May 2024, 09:11 pm

New Delhi:  India's mineral production index for FY 2023-24 has increased by 7.5% over FY 2022-23. The mineral production index for March 2024 stood at 156.1, marking a 1.2% increase compared to March 2023.

Notably, several non-fuel minerals, including Copper Concentrate, Gold, Manganese Ore, Diamond, Graphite, Kyanite, Sillimanite, Limeshell, Limestone, and Magnesite, exhibited positive growth in March 2024 compared to the same period last year.

Iron ore and Limestone jointly constitute approximately 80% of the total mineral production value under the MCDR. Both minerals saw significant growth in FY 2023-24 according to provisional data.

Iron ore production reached 277 million metric tons (MMT), surpassing the previous record of 258 MMT in FY 2022-23 by 7.4%.

Similarly, limestone production increased by 10.7% from 406.5 MMT in FY 2022-23 to 450 MMT in FY 2023-24, exceeding the previous record.

In the non-ferrous metal sector, primary Aluminium production in FY 2023-24 exceeded the previous year's record, growing from 40.73 lakh tons (LT) to 41.59 LT, representing a growth rate of 2.1%.

India ranks as the world's second-largest Aluminium producer, third-largest lime producer, and fourth-largest iron ore producer.

The notable growth in iron ore and limestone production in FY 2023-24 reflects robust demand in user industries such as steel and cement.

Coupled with the significant growth in Aluminium production, these trends indicate strong economic activity in sectors like energy, infrastructure, construction, automotive, and machinery.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.