Iron ore Accounts for 70% of total mineral production, reaches 274 MMT in FY 2023-24

New Delhi [India], March 30 (ANI): The Iron ore accounts for 70 per cent of the total MCDR mineral production by value, with production reaching 274 million metric tonnes (MMT) in FY 2023-24.

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According to provisional data released by the Ministry of Mines, iron ore production has continued to rise in FY 2024-25, growing by 4.4 per cent from 252 MMT in FY 2023-24 to 263 MMT.

Other key minerals also showed strong growth, with manganese ore production rising by 12.8 per cent to 3.4 MMT, and bauxite production increasing by 3.6 cent to 22.7 MMT during the same period.

The official data shows that the lead concentrate production grew by 3.5 per cent, reaching 352 thousand tonnes (THT).

In the non-ferrous metal sector, primary aluminium production saw a modest increase of 0.9 per cent, rising to 38.36 lakh tonnes (LT), while refined copper production grew by 7.1 per cent to 4.97 LT in FY 2024-25.

These figures reflect a continued positive trend in India's mineral production. The growth also underlines the rising demand for manganese, particularly for steel and alloy production.

Continued growth in production of iron ore in the current financial year reflects the robust demand conditions in the user industry, viz., steel, the Mines Ministry said.

Coupled with growth in aluminium and copper, these growth trends point towards continued strong economic activity in user sectors such as energy, infrastructure, construction, automotive and machinery.

These positive production trends in key minerals indicate strong economic activity across several user sectors, including energy, infrastructure, construction, automotive, and machinery.

India holds a prominent position in the global mineral landscape, being the fourth-largest iron ore producer and a key player in the aluminium and copper markets.

India is the 2nd largest Aluminium producer, among the top 10 producers of refined copper and the 4th largest iron ore producer in the world. (ANI)

(The story has come from a syndicated feed and has not been edited by the Tribune Staff.)