New Delhi, Mar 30: The production of key minerals such as iron ore, manganese ore, bauxite and lead in the country have recorded a robust growth in financial year 2024-25 after reaching record production levels in FY 2023-24, according to a statement issued by the Ministry of Mines on Sunday.

The output of iron ore which accounts for 70 per cent of the total mineral production by value increased to 263 million metric tonnes (MMT) during April-February of FY 2024-25 from 252 MMT in the same period of FY 2023-24, which represents a growth of 4.4 per cent, official figures showed.

The production for the full financial year 2023-24 was 274 million metric tonnes (MMT).

The production of manganese ore jumped by 12.8 per cent to 3.4 MMT in FY 2024-25 (April- February) from 3.0 MMT during the corresponding period of the previous year while the production of bauxite has also risen by 3.6 per cent to 22.7 MMT during these 11 months of the current financial year from 21.9 MMT in the same period of FY 2023-24.

Similarly, the production of Lead Concentrate has also risen by 3.5 per cent to 3,52,000 tonnes during this period in FY 2024-25 from 3,40,000 tonnes in FY 2023-24.

In the non-ferrous metal sector, primary aluminium production in the 11 months of FY 2024-25 posted a growth of 0.9 per cent over the corresponding period last year, increasing to 38.36 lakh tonnes (LT) from 38.00 LT in FY 2023-24. During the same comparative period, refined copper production has grown by 7.1 per cent from 4.64 LT to 4.97 LT.

India is the second largest Aluminium producer in the world, among the top-10 producers of refined copper and the fourth largest iron ore producer in the world. Continued growth in production of iron ore in the current financial year reflects the robust demand conditions in steel, which is the user industry for these metals.

Coupled with growth in aluminium and copper, these growth trends point towards continued strong economic activity in user sectors such as energy, infrastructure, construction, automotive and machinery, the statement added.

(IANS)

read more Business News

Argus News | argus news | Odisha Latest News, Breaking News, Trending News, Live TV