05/12/2023
Indian Mineral Production Records Over 11% Growth In September 2023: IBM Report. The Indian Bureau of Mines (IBM) has released the mineral production index for September 2023, showcasing a growth rate of 11.5% compared to the same period last year. The base year for the index is 2011-12, and the current value stands at 111.5, reflecting the sector's upward trajectory. According to provisional statistics provided by the Indian Bureau of Mines, the cumulative growth for the period of April to September 2023-24 registers at a substantial 8.7% over the corresponding period of the previous year. Several crucial minerals have exhibited notable positive growth rates during September 2023 compared to the same month in 2022. Manganese Ore leads the pack with an impressive growth rate of 51.5%, followed by Gold (22.8%), Iron Ore (17%), Coal (16%), and Limestone (13.7%). The production levels of significant minerals for September 2023 are as follows: Coal - 673 lakh tonne, Lignite - 29 lakh tonne, Natural Gas (utilised) - 2974 million cu. m., Petroleum (crude) - 24 lakh tonne, Bauxite - 1726 thousand tonne, Chromite - 117 thousand tonne, Copper Concentrate - 10 thousand tonne, Gold - 113 kg, Iron Ore - 195 lakh tonne, Lead Concentrate – 29,000 tonne, Manganese Ore – 247,000 tonne, Zinc Concentrate – 134,000 tonne, Limestone - 347 lakh tonne, Phosphorite – 88,000 tonne, and Magnesite – 9,000 tonne. Despite the overall positive trend, some minerals have shown a decrease in production. Petroleum (crude) experienced a marginal decline of 0.3%, while Lead Concentrate, Magnesite, and Phosphorite recorded negative growth rates of -3.0%, -3.7%, and -41.5%, respectively.