Ministry of Mines to launch 1st Tranche auction of Exploration License blocks in March
He also said that Assam, Jammu & Kashmir and Kerala will also join the mineral auction regime soon, expanding the mineral auction map of India to 17 states.
The production of some key minerals in India has continued to witness strong growth after reaching record production levels in FY24, the Ministry of Mines said in a statement on Friday.
Iron ore accounts for about 70% of the total MCDR mineral production by value. Production of iron ore was 274 million metric tonne (MMT) in FY 2023-24, it said.
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According to provisional data, production of iron ore has increased from 128 MMT in FY 2023-24 (April-September) to 135 MMT in FY 2024-25 (April-September), showing a healthy 5.5% growth.
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Production of manganese ore has risen by 6.2% to 1.7 MMT in FY 2024-25 (April-September) from 1.6 MMT during the corresponding period of previous year.
In the non-ferrous metal sector, primary aluminium production in FY 2024-25 (April-September) posted a growth of 1.2% over the corresponding period last year, increasing to 20.90 lakh ton (LT) in FY 2024-25 (April-September) from 20.66 LT in FY 2023-24 (April-September).
During the same comparative period, refined copper production has grown by 4.6% from 2.39 LT to 2.50 LT.
Notably, India is the 2nd largest aluminium producer, among top-10 producers in refined copper and 4th largest iron ore producer in the world.
The Ministry of Mines said the continued growth in production of iron ore in the current financial year reflects the robust demand conditions in the user industry viz. steel.
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, it added.
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