The Mining Sector saw a record production in FY24 and a significant growth in the production of key minerals and aluminium metal, the Ministry of Mines said on Wednesday.
Highlighting the production of key minerals in the Financial Year 2024, the ministry said iron ore production rose from 230 million metric tonnes (MMT) during the 11 months from April to February of FY23 to 252 MMT during the corresponding period of FY24, at 9.6 per cent growth, and the full year production of iron ore in FY24 is likely to break the production record of 258 MMT achieved in FY23.
Showing a similar trend, limestone production has increased from 366 MMT during the 11 months of April-February of FY23 to 407 MMT during the corresponding period of FY24, at 11.2 per cent growth, and has already surpassed the full-year production record of 406.5 MMT achieved in FY23, it said.
In the non-ferrous metal sector, production of primary Aluminium metal has increased from 37.11 lakh tonnes (LT) during the 11 months of April-February of FY23 to 38.02 LT during the corresponding period of FY24, at 2.5 per cent growth. The full-year production of primary Aluminium in FY24 is likely to break the production record of 40.73 LT achieved in FY23.
Notably, as per the recent government data, the index of mineral production for Feb 2024 was 139.6, which is 8.0 per cent higher as compared to the level in February 2023.
The cumulative growth of this index for the 11 months of April-February of FY24 over the corresponding period of the previous year was higher by 8.2 per cent.
Some of the non-fuel minerals showing positive growth during February 2024 as compared to the corresponding month of the previous year are Bauxite, Chromite, Copper Concentrate, Gold, Zinc Concentrate, Manganese Ore, Phosphorite, Diamond, Graphite, Limestone, Magnesite, etc.