India’s mineral production index in the mining and quarrying sector showcased promising growth in May 2023, reflecting a rise of 6.4% compared to the corresponding month in 2022, according to the provisional figures released by the Indian Bureau of Mines (IBM).
The cumulative growth for the period from April to May 2022-23, compared to the corresponding period of the previous year, stands at 5.8% percent, indicating a steady increase in mineral production during this time frame.
In May 2023, the production levels of significant minerals were as follows: coal at 762 lakh tonnes, lignite at 35 lakh tonnes, petroleum (crude) at 25 lakh tonnes, iron ore at 253 lakh tonnes, and limestone at 387 lakh tonnes, among others. Natural gas (utilized) recorded 2838 million cubic meters, while gold production reached 97 kilograms.
Notably, several important minerals demonstrated substantial positive growth during May 2023 compared to May 2022. Manganese ore exhibited the most remarkable increase at 40.4%, followed by magnesite at 28.2%, copper concentrate at 24.4%, and chromite at 16.3%. Iron ore, limestone, lead concentrate, coal, bauxite, and zinc concentrate also registered positive growth rates, ranging from 2.9% to 13.6%.
On the other hand, some minerals experienced a decline in production during the same period. Natural gas (utilized) saw a slight drop of 0.3%, while petroleum (crude) decreased by 1.9%. Phosphorite and lignite recorded more substantial negative growth rates of 6.3% and 17.7%, respectively.
The mining and quarrying sector’s robust performance in May 2023 showcases the nation’s commitment to the mining industry’s growth and development. The positive trajectory of crucial minerals like manganese ore, magnesite, and copper concentrate signifies India’s steady progress in its mineral production landscape. As the sector continues to evolve, authorities and stakeholders will closely monitor trends and strategies to further bolster India’s mineral output.
