India's mineral production index rises by 13.1% in October 2023
India's mineral production index saw a notable 13.1% increase in October 2023, compared to the same month last year, according to the Union Ministry of Mines. It also reported a 9.4% year-on-year growth for April-October. Minerals like iron ore, manganese ore, gold, and coal experienced significant growth, while others such as lignite, bauxite, copper concentrate, chromite, and phosphorite saw declines.
Key minerals witness substantial growth
The ministry highlighted that production levels of key minerals like iron ore (up by 66.8%), gold (up by 19.6%), manganese ore (up 33.1%), and coal (up 18.5%) improved during this period. Limestone (up by 14%), lead concentrate (up 4.7%), zinc concentrate (up 10%), utilized natural gas (up 9.9%), crude petroleum (up 1.3%), and magnesite (up by 6.7%), also saw gains. The value of iron ore alone jumped from Rs. 3,518 crore to Rs. 8,411 crore.
Government focusing on critical minerals production
To further boost India's production of critical minerals, the Ministry of Mines identified 30 such minerals in July based on committee recommendations. These include tin (used in aerospace, construction, and electronics), molybdenum, found in steel alloys and electrical components; graphite (utilized in batteries and electric vehicles) and nickel, essential for stainless steel, solar panels, and electric vehicles. This focus on critical minerals supports India's ambitious plans for energy transition and strengthening domestic manufacturing.
