Current Affairs-Topics

India Rises to Top Ranks in Global Mineral Production

India achieved record-breaking mineral production in FY 2023-24, with iron ore and limestone accounting for 80% of total MCDR mineral production. Key minerals showed strong growth in Q1 FY 2024-25.

India's Global Standing in Mineral Production

  • India has solidified its position as a global leader in mineral production.
  • Ranked as the 2nd largest Aluminium producer worldwide.
  • 3rd largest lime producer globally.
  • 4th largest iron ore producer in the world.
  • These rankings highlight India's significant contribution to the global mineral industry.

Record-Breaking Mineral Production in FY 2023-24

  • India achieved unprecedented levels of mineral production in fiscal year 2023-24.
  • Iron ore and limestone accounted for 80% of total MCDR mineral production by value.
  • Iron ore production reached 275 million metric tons (MMT).
  • Limestone production hit 450 million metric tons (MMT).
  • These figures indicate robust demand from industries relying on these raw materials.

Continued Growth in Q1 FY 2024-25

  • Key minerals showed strong growth in the first quarter of FY 2024-25.
  • Iron ore production increased from 72 MMT to 79 MMT, a 9.7% growth compared to Q1 FY 2023-24.
  • Limestone production rose from 114 MMT to 116 MMT, showing 1.8% growth.
  • Manganese ore production jumped by 11% to 1.0 MMT from 0.9 MMT year-over-year.
  • Primary aluminium production grew by 1.2%, reaching 10.43 lakh tons in Q1 FY 2024-25.

Economic Implications and Industry Demand

  • Continued growth in iron ore and limestone production reflects robust demand in user industries.
  • Steel and cement sectors show strong consumption of these minerals.
  • Growth trends in aluminium, iron ore, and limestone production indicate strong economic activity in various sectors.
  • Key user sectors benefiting from mineral production growth include:

a) Energy b) Infrastructure c) Construction d) Automotive e) Machinery

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