India’s Iron Ore Production Surges in 2024-25, Boosting Economy
India’s iron ore production for the fiscal year 2024-25 (April-August) increased by 7.4% to 116 million metric tonnes (MMT) compared to the same period last year. According to the Ministry of Mines, India produced 274 MMT of iron ore in FY 2023-24. Iron ore accounts for approximately 70% of the total mineral production by value under the Mineral Conservation and Development Rules (MCDR).
Manganese ore production also rose by 15.4%, reaching 1.5 MMT in FY 2024-25 from 1.3 MMT during the same period last year. This growth highlights the rising demand for manganese, especially for steel and alloy production.
Primary aluminium production grew by 1.3%, reaching 17.49 lakh tonnes (LT) in FY 2024-25 compared to 17.26 LT during the same period last year. India is the second-largest aluminium producer in the world.
Refined copper production increased by 5.8%, rising from 1.91 LT to 2.02 LT during the same comparative timeframe. This positions India among the top ten producers of refined copper globally.
These positive production trends in key minerals indicate strong economic activity across several user sectors, including energy, infrastructure, construction, automotive, and machinery. India holds a prominent position in the global mineral landscape, being the fourth-largest iron ore producer and a key player in the aluminium and copper markets.
Doubts Revealed
Iron Ore -: Iron ore is a type of rock that contains iron, which is used to make steel. Steel is used to build things like buildings, cars, and bridges.
Fiscal Year -: A fiscal year is a 12-month period used for accounting purposes. In India, it starts on April 1st and ends on March 31st of the next year.
Metric Tonnes (MMT) -: A metric tonne is a unit of weight equal to 1,000 kilograms. MMT stands for million metric tonnes.
Manganese Ore -: Manganese ore is a type of rock that contains manganese, which is used to make steel and other metal products stronger.
Primary Aluminium -: Primary aluminium is aluminium that is made directly from raw materials, not recycled. Aluminium is used in things like cans, airplanes, and kitchen foil.
Refined Copper -: Refined copper is copper that has been purified for use in electrical wires, plumbing, and other products.
Economic Activity -: Economic activity refers to the production, distribution, and consumption of goods and services. It shows how busy and productive a country’s economy is.
Infrastructure -: Infrastructure includes the basic physical systems of a country, like roads, bridges, and power supplies, which are necessary for the economy to function.
Automotive -: The automotive sector includes companies and activities involved in the design, development, manufacturing, and selling of motor vehicles.
Global Mineral Market -: The global mineral market is the worldwide trade of minerals like iron, manganese, and copper, which are used in various industries.
