The country’s mineral production rose by 2.5% in October compared to the year-ago period, the mines ministry said.
This is second consecutive month this fiscal when country’s mineral production mineral clocked positive growth. In September, mineral production had grown by a higher 4.6%. The index of mineral production of mining and quarrying sector in October was at 112.5.
“As per the provisional statistics of Indian Bureau of Mines, the cumulative growth for the period April-October, 2022-23 over the corresponding period of previous year is 4.0 per cent,” the mines ministry said in a statement.
Coal production stood at 662 lakh tonnes in October this year while Llignite production was at 35 lakh tonnes. Natural gas (utilized) production stood at 2829 million cu. m., petroleum (crude) 25 lakh tonnes, bauxite 2069 thousand tonnes, chromite 133,000 tonnes, copper concentrate 10,000 tonnes , gold 98 kg, iron ore 207 lakh tonnes, lead concentrate 31,000 tonnes.
Accordingly, production of manganese ore stood at 167,000 tonnes, limestone 317 lakh tonnes, phosphorite 153,000 tonnes, magnesite 9,000 tonnes, and diamond 114 carat.
According to the mines ministry, important minerals showing positive growth during October, 2022 over October, 2021 include: diamond (375%), phosphorite (21%), bauxite (15.1%) iron ore (8.7%), coal(3.5%) and chromite(1.9%).
But certain minerals also registered negative growth. The ministry said that some important minerals showing negative growth include: Limestone (-0.8%),Petroleum(-2.2%), Natural Gas (U) (- 4.2%). Zinc conc (-5.1%),Lignite(-6.1),Lead conc (-6.7%), Magnesite (-7.9%), Copper concentrate(-8.5%), Gold (-10.1%) and Manganese Ore (-19.0%).
The expectation as that mineral production would remain slow due to the impact of the emerging signals of a global recession. However, with domestic industry remaining bullish, the production of minerals is expected to follow a growth path but may make slow progress.
