Iron ore production jumps 9.6% in April-Feb FY2024

The Ministry of Mines stated in a latest update that the index of mineral production for the month of Feb 2024 was 139.6, which is 8.0% higher as compared to the level in the month of Feb 2023. The cumulative growth of this index for the 11-month period of AprilFeb of FY24 over the corresponding period of the previous year was higher by 8.2%. Iron ore and Limestone together account for about 80% of the total MCDR mineral production by value. Production of these key minerals in the country has exhibited high growth in FY24 as per provisional figures. Iron ore production has increased from 230 million metric ton (MMT) during the 11-month period April-Feb of FY23 to 252 MMT during the corresponding period of FY24, at 9.6% growth. The full year production of iron ore in FY24 is likely to break the production record of 258 MMT achieved in FY23. Showing a similar trend, limestone production has increased from 366 MMT during the 11-month period April-Feb of FY23 to 407 MMT during the corresponding period of FY24, at 11.2% growth, and has already surpassed the full year production record of 406.5 MMT achieved in FY23.

Powered by Capital Market - Live News