Mineral production registers record 7.5% growth for FY24
For March 2024, the index was 156.1, which is 1.2 per cent higher as compared to the level in the same month last year.
The index of mineral production of the mining and quarrying sector was 5.1 per cent higher in December 2023, as compared to the level in the month of December, 2022, the Ministry of Mines highlighted on Thursday.
The cumulative growth for the period April- December, 2023-24 over the corresponding period of previous year is 8.5 %.
In December 2023, the index of mineral production of the mining and quarrying sector was at 139.4.
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According to the data, the important minerals showing positive growth during December, 2023 over December, 2022 include: Magnesite (83.7%), Lead Conc.(16.5%), Lignite(14.6%), Copper Conc.(13.7%), Limestone(12.5%), Coal (10.8%), Zinc Conc.(7.8%), Bauxite (6.6%), Natural gas (U) (6.6%), Manganese Ore (4.0%) and Iron Ore (1.3%).
Other important minerals showing negative growth include: Petroleum(crude) (-1.0%), , Gold (-29.9%), Chromite (-30.8%), Phosphorite (-31.2%) and Diamond (-74.4%).
Giving an overview of important minerals, the ministry said in December, 2023 the production levels were: Coal 929 lakh, Lignite 40 lakh , Petroleum (crude) 25 lakh, Iron ore 255 lakh, Limestone 372 lakh tonnes each, Natural gas (utilized) 3078 million cu. m., Bauxite 2429 thousand, Chromite 235 thousand, Copper conc. 11 thousand, Lead conc. 35 thousand, Manganese ore 319 thousand, Zinc conc. 148 thousand, Phosphorite 117 thousand, Magnesite 16 thousand tonnes each and Gold 122 kg.
The data recently released by the National Statistical Office (NSO) said the Index of Industrial Production (IIP) growth for December 2023 was 3.8% higher than 2.4% recorded in November. November witnessed the lowest IIP growth since March 2023, when it was 1.7%.
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