New Delhi: India has witnessed record-breaking production levels of key minerals iron ore and limestone in the fiscal year 2023-24, accounting for about 80% of the total mineral production by value under the Mineral Conservation and Development Rules (MCDR). Iron ore production soared to 277 million metric tonnes (MMT) and limestone production reached 450 MMT in FY 2023-24.
The trend of increased production has continued into the new financial year. In the first month of FY 2024-25, production levels of these essential minerals have shown a steady rise compared to the same period last year. Iron ore production increased from 25 MMT in April 2023 to 26 MMT in April 2024, marking a 4% growth. Similarly, limestone production grew from 38.5 MMT in April 2023 to 39.3 MMT in April 2024, reflecting a 2.1% increase.
In the non-ferrous metal sector, primary aluminium production also reached a record level in FY 2023-24, with 41.6 lakh tonnes (LT) produced. This upward trajectory has continued into the current financial year, with aluminium production in April 2024 at 3.42 LT, slightly higher than the 3.39 LT produced in April 2023, a growth of 1%.
India has solidified its position as a major player in the global mineral production landscape, being the 2nd largest producer of aluminium, the 3rd largest producer of lime, and the 4th largest producer of iron ore in the world. The sustained growth in the production of iron ore and limestone highlights the robust demand conditions in the user industries such as steel and cement. The continued increase in aluminium production further indicates strong economic activity across various sectors including energy, infrastructure, construction, automotive, and machinery.