Mineral Production registers growth of 9.7% in November 2022

In a significant development, mineral production in India has gone up by 9.7% for November 2022 as compared to the same month in the year 2021. The index of mineral production of mining and quarrying sector stood at 105.8 mark for November last year. The provisional statistics of Indian Bureau of Mines (IBM) indicate that the cumulative growth for the period April-November, 2022-23 over the corresponding period of previous year is 4.7%.

Many important minerals have also shown positive growth in terms of production. Diamond production registered a whopping 87% increase, followed by Phosphorite (68%), Bauxite (30%) and Iron Ore (19%). Other minerals that attained positive growth include Manganese Ore (18.5%), Coal(12%) and Limestone (8.6%). Few minerals also registered negative growth but only with a very slight drop – Petroleum (-1%), Natural Gas (U) (-0.7%). Lignite(-1.3),Lead conc. (-1.9%), Copper concentrate(-4.1%), Gold (-0.8%) and Chromite(-6%).

Production level of major minerals in November, 2022 in the country are as follows –

Gold – 132 kg
Diamond – 28 carat
Iron ore – 231 lakh tonnes
Coal – 761 lakh tonnes
Lignite – 32 lakh tonnes
Natural gas (utilized) – 2779 million cu. m.
Zinc conc. – 133 thousand tonnes
Lead conc. – 30 thousand tonnes
Petroleum (crude) – 24 lakh tonnes
Phosphorite – 205 thousand tonnes
Bauxite – 2228 thousand tonnes
Chromite – 243 thousand tonnes
Copper conc. – 9.5 thousand tonnes
Limestone – 330 lakh tonnes
Manganese ore – 274 thousand tonnes
Magnesite – 9 thousand tonnes

Stone age to bronze age to iron age to modern industrial revolution, human civilisation has evolved around economic excavation and processing of minerals and fossil fuels. India has shown consistent improvement in both mineral output as well as coal production in recent times.

A lot has also been made possible because of the National Mineral Policy 2019 (NMP) which aims to create a more effective, meaningful and implementable policy that brings in further transparency, better regulation and enforcement, balanced social and economic growth as well as sustainable mining practices. NMP encourages merger and acquisition of mining entities, transfer of mining leases, creation of dedicated mineral corridors to boost private sector mining areas, exploration work by private players, etc. The policy also proposes a long term export import policy for the mineral sector to provide stability and as an incentive for investing in large scale commercial mining activity.

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