India has solidified its position as a global leader in mineral production, achieving impressive rankings across several key minerals. The country now stands as the 2nd largest aluminium producer, the 3rd largest lime producer, and the 4th largest iron ore producer in the world. These rankings underscore India’s significant contributions to the global mineral industry and highlight its growing importance in the sector.
Record-Breaking Production in FY 2023-24
The fiscal year 2023-24 witnessed unprecedented levels of mineral production in India, setting a strong foundation for continued growth. Two key minerals, iron ore and limestone, emerged as the backbone of India’s mineral sector, collectively accounting for an impressive 80 per cent of the total MCDR mineral production by value.
The production figures for these crucial minerals in FY 2023-24 were as follows: Iron Ore at 275 million metric tons (MMT) and Limestone at 450 million metric tons (MMT). These figures not only represent a significant achievement for India’s mineral sector but also indicate the robust demand from various industries that rely on these raw materials.
Iron Ore Production Soars
Building on the success of the previous fiscal year, iron ore production has shown remarkable growth in the first quarter of FY 2024-25. The production increased from 72 MMT in Q1 FY 2023-24 to 79 MMT in Q1 FY 2024-25, registering an impressive 9.7 per cent growth. This surge in production reflects the strong demand from the steel industry and other related sectors.
Limestone Maintains Steady Growth
Limestone production also continued its upward trajectory, albeit at a more moderate pace. Production rose from 114 MMT in Q1 FY 2023-24 to 116 MMT in Q1 FY 2024-25, achieving a 1.8 per cent growth. This steady increase indicates sustained demand from the cement industry and other limestone-dependent sectors.
Manganese Ore Sees Significant Jump
In a notable development, manganese ore production witnessed a substantial increase. Production jumped by 11 per cent, reaching 1.0 MMT in Q1 FY 2024-25, up from 0.9 MMT in the corresponding period of the previous year. This growth highlights the increasing importance of manganese in various industrial applications.
Non-Ferrous Metal Sector: Aluminium Leads the Way
The non-ferrous metal sector, particularly aluminium, has shown positive growth trends. According to provisional data:
Primary aluminium production in Q1 FY 2024-25 (April-June) increased to 10.43 lakh tons (LT), representing a 1.2 per cent growth compared to 10.28 LT in Q1 FY 2023-24 (April-June).
As the 2nd largest aluminium producer globally, India’s continued growth in this sector reinforces its position in the international market and indicates strong domestic demand for the metal.
