India Sees Strong Growth In Iron Ore and Non-Ferrous Metals Production

Manganese ore production grew 11.1 per cent to 2.0 MMT in FY 2024-25 (April-October) from 1.8 MMT in FY 2023-24 (April-October). Bauxite production increased by 11.3 per cent to 13.8 MMT in FY 2024-25

Iron ore makes up 69 per cent of the country’s total mineral production by value. Iron ore production reached 274 million metric tonnes in FY 2023-24

Source : Pexels

The production of key minerals in India has continued to show a strong performance in the first seven months of the financial year 2024-25 (April to October), following record production levels in the financial year 2023-24, according to data released by the Ministry of Mines on Thursday.

Iron ore makes up 69 per cent of the country’s total mineral production by value. Iron ore production reached 274 million metric tonnes (MMT) in FY 2023-24. Provisional data shows that iron ore production rose from 152.1 MMT in the first seven months of FY 2023-24 (April-October) to 158.4 MMT in FY 2024-25 (April-October), a 4.1 per cent increase.

Manganese ore production grew by 11.1 per cent to 2.0 MMT in FY 2024-25 (April-October) from 1.8 MMT in FY 2023-24 (April-October). Bauxite production increased by 11.3 per cent to 13.8 MMT in FY 2024-25 (April-October) from 12.4 MMT in FY 2023-24 (April-October), as per the report.

In the non-ferrous metal sector, primary aluminium production grew by 1.2 per cent in FY 2024-25 (April-October), rising to 24.46 lakh tons (LT) from 24.17 LT in FY 2023-24 (April-October). Refined copper production grew 6 per cent from 2.83 LT to 3.00 LT in the same period, according to the official data.

India is the second-largest aluminium producer, among the top 10 producers of refined copper, and the fourth-largest iron ore producer globally. The continued growth in iron ore production indicates strong demand in the steel industry, which uses it as a key input. Along with growth in aluminium and copper, these trends suggest ongoing robust economic activity in sectors like energy, infrastructure, construction, automotive, and machinery.

India is the only large economy showing strong growth in steel consumption, with a 13.5 per cent increase in the first half of 2024-25, according to the Ministry of Steel’s latest data.