Growth in Indian Mining Sector in April 2024 Following Record Production Levels in FY 2023-24
The Indian Ministry of Mines reports continued growth in the mining sector in April 2024, following record production levels in the fiscal year 2023-24. Iron ore and limestone, which together account for about 80% of the total MCDR mineral production by value, showed significant increases in production.
In FY 2023-24, iron ore production reached 277 million metric tonnes (MMT), while limestone production hit 450 MMT. The first month of FY 2024-25 saw iron ore production rise from 25 MMT in April 2023 to 26 MMT in April 2024, a 4% growth. Limestone production increased from 38.5 MMT in April 2023 to 39.3 MMT in April 2024, marking a 2.1% growth.
In the non-ferrous metal sector, primary aluminium production hit a record 4.16 million tonnes (MT) in FY 2023-24. Aluminium production in April 2024 continued this growth trend, reaching 342,000 tonnes, up 1% from 339,000 tonnes in April 2023.
India ranks as the second-largest aluminium producer, third-largest lime producer, and fourth-largest iron ore producer globally. The ongoing growth in iron ore and limestone production reflects robust demand from user industries such as steel and cement. Coupled with the growth in aluminium production, these trends indicate strong economic activity in sectors like energy, infrastructure, construction, automotive, and machinery.
