India’s Mineral Production Surges by Nearly 6% in January
Amid increasing steel demand in the country, other minerals like iron ore, essential for steel production, saw a significant 41% year-on-year increase in sales value. India’s iron ore production for the month reached 25.2 million tonnes.
According to a report from the Press Information Bureau (PIB) on Wednesday, India’s mineral production from mining and quarrying increased by 5.9% year-on-year. During this period, the country generated over 99.8 million tonnes of coal, driven by increasing demand for power.
In January, India, the second-largest consumer of coal globally, witnessed a record surge in coal-fired electricity generation. The increased demand for air conditioning led power generation companies to maintain substantial utilization of coal and other fossil fuels, without significant reductions.
Amidst escalating steel demand in the nation, other minerals like iron ore, essential for steel production, witnessed a substantial 41% year-on-year increase in sales value. India’s iron ore production for the month totaled 25.2 million tonnes.
According to the PIB release, the production of minerals like Magnesite, utilized in synthetic rubber production, surged by over 90%, while copper concentrate, essential for refined copper production, witnessed a growth of over 34%.
In the upcoming fiscal year, India’s refined copper production is projected to reach approximately 555,000 metric tons annually, with domestic consumption anticipated to exceed 750,000 metric tons.
