Record Production in Mining Sector FY24

Summary and Important Points:

• February 2024 saw an 8.0% increase in the index of mineral production compared to February 2023, with an 11-month cumulative growth of 8.2%.

• Notable growth in non-fuel minerals like Bauxite, Chromite, and Gold.

• Iron ore and Limestone production significantly increased, indicating strong demand in steel and cement industries.

• Production of primary Aluminium metal grew by 2.5%, hinting at a new annual production record.

Additional Information:

• India's global ranks: 2nd in Aluminium production, 3rd in lime production, 4th in iron ore production.

• The growth reflects robust economic activities in sectors such as construction and automotive.

Examination Perspective and Concise Points for Use:

• Analyze the impact of mineral production growth on India's economy and global positioning.

• Explore the role of the mining sector in supporting industrial growth and sustainable development.

Key Words to Remember:

• Index of Mineral Production: A measure of the overall production efficiency and output of the mining sector.

• Bauxite and Chromite: Key minerals for aluminium and stainless steel production, respectively.

• Iron Ore: A crucial raw material for the steel industry, indicating its demand through production growth.

• Limestone: Essential for cement manufacturing, with its production growth reflecting construction sector health.

• Primary Aluminium Metal: Indicates India's contribution to global aluminium supply and technological advancement in metal production.

Link to Article : Press Information Bureau (pib.gov.in)

Released On : 03 April 2024