Manufacturing Of Key Minerals Information Strong Rise In April-January ’24-25 | Financial system Information

New Delhi: The manufacturing of some key minerals within the nation has continued to witness robust progress in the course of the 10-month interval from April to January of FY 2024-25, after reaching file manufacturing ranges in FY 2023-24, in line with an official assertion issued on Thursday. The manufacturing of iron ore, which accounts for 70 per cent of the overall mineral manufacturing in India by worth and had touched 274 million metric tonnes (MMT) in FY 2023-24, has proven an extra enhance in the course of the present monetary 12 months.

As per provisional knowledge, manufacturing of iron ore has elevated from 228 MMT in FY 2023-24 (April-January) to 236 MMT in FY 2024-25 (April-January), exhibiting a wholesome 3.5 per cent progress, the assertion stated. The manufacturing of manganese ore has shot up by 11.1 per cent to three.0 MMT in FY 2024-25 (April-January) from 2.7 MMT in the course of the corresponding interval of the earlier 12 months whereas the manufacturing of chromite has risen by 8.7 per cent to 2.5 MMT from 2.3 MMT throughout this era.

Moreover, the manufacturing of bauxite has additionally risen by 5.6 per cent to twenty.6 MMT in FY 2024-25 (April- January) from 19.5 MMT in the identical interval of the earlier 12 months. Within the non-ferrous steel sector, major aluminium manufacturing in FY 2024-25 (April-January) posted a progress of 1.2 per cent over the corresponding interval final 12 months, growing to 35.10 lakh tons (LT) in FY 2024-25 (April-January) from 34.67 LT in the identical interval of FY 2023-24. Throughout the identical comparative interval, refined copper manufacturing has grown by 7.4 per cent from 4.19 LT to 4.50 LT.

India is the 2nd largest aluminium producer, among the many top-10 producers in refined copper and the 4th largest iron ore producer on the earth. “The continued progress in manufacturing of iron ore within the present monetary 12 months displays the sturdy demand circumstances within the metal trade which makes use of it as a uncooked materials. Coupled with the expansion in aluminium and copper, these progress developments level in the direction of continued robust financial exercise in person sectors resembling power, infrastructure, building, automotive and equipment,” the assertion added.