Scindia hails growth of Indo-French ties at Indo-French North-East Investment Forum (See 'Corp Brief') Misc - Court under Order IX Rule 26 has power to appoint Local Commissioner to ascertain market value of any property, or amount of mesne profits or damages: HC (See 'Legal Desk') Scindia confers Bharat Ratna Hazarika National Awards (See 'Corp Brief') Controller General of Accounts inaugurates Delhi circle Pension Campaign (See 'Corp Brief') Competition Law - Mere dissatisfaction with tender terms or with rejection of bid cannot lead to presumption of imposition of unfair or discriminatory conditions and abuse of dominance: CCI (See 'Legal Desk') Coal India Celebrates 50 Glorious Years of Nation Building (See 'Corp Brief') Scindia lays bricks for Integrated Sohra Tourism Circuit (See 'Corp Brief') Naidu inaugurates creche facility at Udaan Bhawan (See 'Corp Brief') IPR - Mere expiry of trademark registration does not, by itself, justify removal from Register, and such removal must be preceded by strict compliance with mandatory requirement of issuing a Form O-3 notice: HC (See 'Legal Desk') GeM organises Session on 'Compliance with Law in Public Procurement' (See 'Corp Brief') MoSPI signs MoU with IICA to develop SDG Alignment Framework (See 'Corp Brief') India's emphasis on overflight in Indo-Pacific is not against any country: RM (See 'Corp Brief') FEMA - Inward remittances labelled 'grants' may be treated as capital account transactions if there are contingent liabilities or obligations that convert them into capital in substance: SAFEMA (See 'Legal Desk') Marine Fisheries Census 2025 goes fully Digital (See 'Corp Brief') IBC - CRPS holders even at stage when redemption period has expired, remain shareholders and do not become creditors and do not fulfil definition of financial creditor u/s 5(7): SC (See 'Legal Desk') India, Netherlands hold 8th Joint Working Group Meeting on Agriculture (See 'Corp Brief') IBC - Moon-shine defense taken to thwart recovery proceedings initiated by Financial Creditor under SARFAESI, can defeat recovery process initiated by Financial Creditor: NCLT (See 'Legal Desk') EPFO hosts Gurcharan Das in 22nd Edition of 'Reimagining Governance' (See 'Corp Brief') NI Act - Statutory demand under Proviso (b) to Sec 138 does not survive if figure claimed is numerically different from dishonoured cheque, even if discrepancy is pleaded to be inadvertent: SC (See 'Legal Desk') BSNL Achieves 93% Revenue Run Rate in Q2 (See 'Corp Brief') A&C - If notice of arbitration was delayed and barred by limitation and arbitration request itself was made two years after initial notice, appointment of arbitrator in partnership dispute can't be done: SC (See 'Legal Desk') Chouhan inaugurates National FPO Conclave 2025 in Delhi (See 'Corp Brief') Competition Law - Google abused its dominant position in Online Search Advertising services market in India by imposing unfair and discriminatory terms through its Google Ads Policies in violation of Sec 4 of Competition Act: CCI (See 'Legal Desk') Government intervention and Corporate governance (See CORP EINSICHT)

Print

Mining Sector sees Record Production in FY24

Published: Apr 04, 2024

By TIOLCorplaws News Service

NEW DELHI, APR 04, 2024: THE index of mineral production for the month of Feb 2024 was 139.6, which is 8.0% higher as compared to the level in the month of Feb 2023. The cumulative growth of this index for the 11-month period of April–Feb of FY24 over the corresponding period of the previous year was higher by 8.2%. Some of the non-fuel minerals showing positive growth during the month of Feb 2024 as compared to the corresponding month of the previous year are Bauxite, Chromite, Copper Concentrate, Gold, Zinc Concentrate, Manganese Ore, Phosphorite, Diamond, Graphite (R.O.M.), Limestone, Magnesite, etc.

Iron ore and Limestone together account for about 80% of the total MCDR mineral production by value. Production of these key minerals in the country has exhibited high growth in FY24 as per provisional figures. Iron ore production has increased from 230 million metric ton (MMT) during the 11-month period April-Feb of FY23 to 252 MMT during the corresponding period of FY24, at 9.6% growth. The full year production of iron ore in FY24 is likely to break the production record of 258 MMT achieved in FY23. Showing a similar trend, limestone production has increased from 366 MMT during the 11-month period April-Feb of FY23 to 407 MMT during the corresponding period of FY24, at 11.2% growth, and has already surpassed the full year production record of 406.5 MMT achieved in FY23.

In the non-ferrous metal sector, production of primary Aluminium metal has increased from 37.11 lakh ton (LT) during the 11-month period April-Feb of FY23 to 38.02 LT during the corresponding period of FY24, at 2.5% growth. The full year production of primary Aluminium in FY24 is likely to break the production record of 40.73 LT achieved in FY23.

India is the 2 nd largest Aluminium producer, 3 rd largest lime producer and 4 th largest iron ore producer in the world. Healthy growth in production of iron ore and limestone reflect the robust demand conditions in the user industries viz. steel and cement. Coupled with the high growth in Aluminium, these growth trends point towards strong economic activity in user sectors such as energy, infrastructure, construction, automotive and machinery.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
tioltube
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.