Redeveloped Sullurupeta Railway station in AP inaugurated (See 'Corp Brief') India Post Payments Bank partners with Aditya Birla Capital (See 'Corp Brief') 'CemHack for Green Infra' Hackathon launched (See 'Corp Brief') NI Act - In order to fasten vicarious liability in accordance with Section 141 for dishonour of cheque by company, averment as to role of Directors concerned should be specific: SC (See 'Legal Desk') India advances people-led Biodiversity Conservation (See 'Corp Brief') Nadda chairs 'Kayakalp Manthan' with hospitals, NGOs and senior officials (See 'Corp Brief') Misc - Filing of supplementary chargesheets does not, in itself, render initial chargesheet incomplete: HC (See 'Legal Desk') International Tea Day Convention held at Vanijya Bhawan (See 'Corp Brief') India reaffirms Global Health commitment at 78th World Health Assembly (See 'Corp Brief') CRCL and IIT Delhi sign MoU to promote ease of doing business (See 'Corp Brief') FERA - Since non-resident has stayed in India for period exceeding 182 days in financial years, preceding purchase of residential properties, he is entitled to purchase residential premises: SAFEMA (See 'Legal Desk') IREDA bags 'Excellent' Rating from DPE (See 'Corp Brief') TRAI exends last date for feedbacks on tariff for DLCs (See 'Corp Brief') PMLA - Adjudicating Authority should be cautious to record that finding on commission of crime would be recorded by Special Court trying criminal case: SAFEMA (See 'Legal Desk') TRAI hosts seminar on Universal & Meaningful Connectivity on World Telecom Day (See 'Corp Brief') Theme for World Bee Day 2025 is 'Bee inspired by nature to nourish us all' (See 'Corp Brief') CCI approves acquisition of majority stake of Nazara Technologies by Axana Estates LLP (See 'Corp Brief') CCI nod for acquisition of Batlivala & Karani Securities by 360 ONE (See 'Corp Brief') A&C - Arbitral tribunal can exclude period, from date on which cause of action arose, till date on which award is made for purpose of grant of interest: SC (See 'Legal Desk') CCI approves acquisition of equity of Haldiram Snacks by Jongsong Investments (See 'Corp Brief') CCI okays acquisition of Bajaj Allianz companies by Bajaj Finserv (See 'Corp Brief') A&C - Mere allegation of fraud/ misconduct does not divest arbitral tribunal of its jurisdiction to adjudicate in personam disputes stemming from contractual relationships governed by arbitration agreement: SC (See 'Legal Desk') Ayush showcases India's Holistic Health Power at Osaka Expo (See 'Corp Brief') 61% pensioners' grievances resolved within a month on CPENGRAMS portal (See 'Corp Brief') PMLA - Issue of retrospectivity has to be examined with reference to time of commission of act which constitutes 'money laundering' and not with reference to time of commission of act which constituted scheduled offence: SAFEMA (See 'Legal Desk') Development Plan for National Waterway-2 on Brahmaputra approved (See 'Corp Brief') India calls for Inclusive Energy Governance at BRICS (See 'Corp Brief') IBC - Duty of Insolvency Professional, in respect of his assignment, continues at all time times, as and when required, including his accountability towards AA or Appellate Authority or Board with respect to that CIRP: IBBI (See 'Legal Desk') Bihar showcases Global Agri-Food Potential at International Buyer-Seller Meet 2025 (See 'Corp Brief') Chouhan virtually interacts with State Ministers on 'Viksit Krishi Sankalp Abhiyan' (See 'Corp Brief') SEBI - Company secretary/ compliance officers of DCHL are not liable for violations committed by company and its directors in absence of specific proven involvement or legal obligation to verify financial data: SAT (See 'Legal Desk') Cybercrime Centre goes for new e-Zero FIR initiative to nab any criminal: HM (See 'Corp Brief') ICAR to host annual conference of VCs and Directors (See 'Corp Brief') ECI begins training programme for BLO Supervisors from Jharkhand (See 'Corp Brief') Benami Act - Provisional attachment of funds transferred in strange transactions, without sufficient explanation, need no interference: SAFEMA (See 'Legal Desk') Minister lays bricks for Rs 42 Cr Integrated Aquapark in Tripura (See 'Corp Brief') Bluwheelz FCO Program - Aiding Micro-Entrepreneurs and Advancing EV Logistics (See CORP EINSICHT) IBC - Once property vests with State Competent Authority under MPID Act, such vesting cannot be impeded by invoking IBC moratorium: SC (See 'Legal Desk') Govt to establish PACS in every panchayat by 2029: HM (See 'Corp Brief') A&C - Willful & wanton wastage of judicial time is highly deplorable practice and its high time that arbitration clauses are phrased with precision and not couched in ambiguous phraseology: SC (See 'Legal Desk') IICA and DGR conclude 2nd Certification Program for Senior Defence Officers (See 'Corp Brief') A&C - Once arbitral award is passed and no objection as to jurisdiction of arbitral tribunal had been taken at relevant stage, then award could not have been annulled only on ground of lack of jurisdiction: SC (See 'Legal Desk') Union Minister to inaugurate Fish Festival in Tripura (See 'Corp Brief') IBC - Inter-se dispute on claim of financial institutions challenging provisional attachment over recovery of dues cannot be determined by Tribunal having limited jurisdiction: SAFEMA (See 'Legal Desk') 'Yoga Unplugged': Youth-centric initiative for International Day of Yoga (See 'Corp Brief') PMLA - Seizure of bank account cannot be annulled on ground that appellant has not been named as accused despite in possession of proceeds of crime: SAFEMA (See 'Legal Desk')

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.