In a significant upswing for India’s mining and quarrying sector, the country witnessed an impressive 11.5% increase in its mineral production in September 2023 compared to the same month in the previous year, according to the latest data released by the Indian Bureau of Mines (IBM). The mineral production index, based on 2011-12 figures, surged to 111.5, showcasing the industry’s resilience and growth.
The positive momentum in mineral production extended over the broader April-September period of the fiscal year 2023-24, registering a cumulative growth of 8.7% compared to the corresponding period in the previous year. This substantial uptick underscores the robust health of India’s mining and quarrying activities.
The production levels of crucial minerals in September 2023 demonstrated the sector’s vitality: Coal- 673 lakh tonnes, Lignite- 29 lakh tonnes, Natural Gas (utilised)- 2974 million cubic meters, Petroleum (crude)- 24 lakh tonnes, Bauxite- 1726 thousand tonnes, Chromite- 117 thousand tonnes, Copper Concentrate- 10 thousand tonnes, Gold- 113 kg, Iron Ore- 195 lakh tonnes, Lead Concentrate- 29 thousand tonnes, Manganese Ore- 247 thousand tonnes, Zinc Concentrate- 134 thousand tonnes, Limestone- 347 lakh tonnes, Phosphorite: 88 thousand tonnes and Magnesite: 09 thousand tonnes.
Notable winners in September 2023, boasting positive growth, included Manganese Ore (51.5%), Gold (22.8%), Iron Ore (17%), Coal (16%), and Limestone (13.7%). The upswing in these key minerals underscored the sector’s diversified strength.
Conversely, a few minerals experienced negative growth during the same period. Petroleum (crude) (-0.3%), Lead Concentrate (-3.0%), Magnesite (-3.7%), and Phosphorite (-41.5%) faced challenges, possibly influenced by market dynamics, global trends, or sector-specific factors.
Industry experts attribute the sector’s overall success to strategic planning, technological advancements, and effective resource management. The positive trajectory of crucial minerals, such as coal and iron ore, highlights the mining sector’s pivotal role in supporting India’s industrial and infrastructural development.
The government’s ongoing initiatives to streamline regulations, boost investment, and encourage sustainable mining practices have contributed to the sector’s growth. However, challenges persist, and stakeholders emphasize the importance of maintaining a balance between economic development and environmental sustainability.
As India’s mineral production continues its upward trajectory, stakeholders anticipate sustained growth in the mining and quarrying sector. The positive trends witnessed in September 2023 reaffirm the industry’s role as a key contributor to the nation’s economic progress.
