India’s Gold and Copper Production Surges as Mining Sector Index Rises

India’s Gold and Copper Production Surges as Mining Sector Index Rises

India’s gold production soared by 86% in February, reaching 255 kg, while copper output increased by 28.7% to 11,000 tonnes, according to recent data from the Ministry of Mines. The surge in production reflects a broader upward trend in the country’s mining and quarrying sector, which saw an 8% rise in February compared to the same period last year.

In addition to gold and copper, other minerals such as bauxite and chromite also saw substantial increases, with production rising 21% to 2.414 million tonnes and 400,000 tonnes, respectively. Karnataka, known for its significant gold reserves, has been a major contributor to the country’s gold production, with key mining operations in districts like Kolar, Dharwad, Hassan, and Raichur.

The overall index of mineral production for India’s mining sector showed an 8.2% cumulative growth for April-February, 2023-24 compared to the previous year. Other minerals showing positive growth include phosphorite (19%), limestone (13%), coal (12%), natural gas (11%), crude petroleum (8%), manganese ore (6%), magnesite (3%), lignite (2.8%), and zinc concentrate (2.8%). However, some minerals experienced declines, such as iron ore (-0.7%) and lead concentrate (-14%).

In terms of production levels for February 2024, India produced 9.66 million tonnes of coal, 420,000 tonnes of lignite, 2,886 million cubic meters of natural gas, 230,000 tonnes of crude petroleum, 24.4 million tonnes of iron ore, 27,000 tonnes of lead concentrate, 295,000 tonnes of manganese ore, 149,000 tonnes of zinc concentrate, 38.7 million tonnes of limestone, 218,000 tonnes of phosphorite, and 10,000 tonnes of magnesite. icon

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