RDI Fund 'Conflict of Interest' policy protected by Stringent Safeguards: MoS (See 'Corp Brief') BRICS Youth Council Meeting and BRICS Youth Summit held successfully in Gandhinagar (See 'Corp Brief') RM to hold bilateral talks with his Japanese counterpart in New Delhi (See 'Corp Brief') 'Friends of MY Bharat': A New Global Youth Connect launched (See 'Corp Brief') IBC - Writ remedy cannot be invoked where petitioner does not challenge any order passed by either Tribunal but merely seeks directions relating to listing, constitution of special bench & restraint on pending proceedings - costs of Rs 25000 imposed on petitioner: HC (See 'Legal Desk') HM to chair 31st meeting of Southern Zonal Council in Mahabalipuram (See 'Corp Brief') India hosts 8th BRICS Youth Energy Summit 2026 (See 'Corp Brief') Health Ministry organises Capacity Building Workshop to strengthen Leprosy Control (See 'Corp Brief') IPR - Fundamental test in trade dress passing off action is one of overall impression and similarity, rather than side-by-side comparison of minor differences: HC (See 'Legal Desk') FM asks Banks to establish sustained relationship with Young customers (See 'Corp Brief') Guwahati-Tezpur Corridor: A New Highway Link to Boost Assam's Tea, Tourism and Trade (See 'Corp Brief') Historic Turnout Marks West Bengal's First-Ever Kaushal Mahotsav (See 'Corp Brief') PMLA - Accused has no vested or matter-of-right entitlement to conversion of non-bailable warrant into bailable warrant: HC (See 'Legal Desk') CCI approves acquisition of 23% equity of TM International Logistics by Tata Steel (See 'Corp Brief') CCI nod for addl shareholding of Acko Technology by General Atlantic Singapore (See 'Corp Brief') CCI okays acquisition of equity in Bharti Life Insurance by Prudential Corporation (See 'Corp Brief') Competition Law - Collective determination of freight rates by truck associations constituted horizontal agreement that directly determined sale prices, thereby violating Sec 3(3)(a): CCI (See 'Legal Desk') Gwalior-Chambal Region to gain New Momentum with Strengthened Rail Connectivity (See 'Corp Brief') Credit to weaker sections reaches Rs 3.49 lakh crore (See 'Corp Brief') PMLA - NBFCs cannot shield themselves from liability when they allow their regulatory licenses to be used for predatory financial crimes: SAFEMA (See 'Legal Desk') Department of Youth Affairs to host BRICS Youth Council Meeting (See 'Corp Brief') IBC - Only crystallised claims as on effective date are payable on pro-rata basis from designated Operational Creditors Settlement Amount: SC (See 'Legal Desk') RDDBFI - Borrowers cannot cherry-pick figures from bank certificates while ignoring standard accounting treatment of interest after NPA classification: SC (See 'Legal Desk') IPR - Holding subsequent trademark registration does not override prior court injunction protecting visual get-up: HC (See 'Legal Desk') PSB Confluence 2026 - deposit mobilisation, banking for youth & investment cycles on agenda (See 'Corp Brief') A&C - Continuation of arbitration proceedings against some guarantors while statutory interim moratorium u/s 96 of IBC is in effect regarding 'debt' violates fundamental policy of Indian law: HC (See 'Legal Desk') IBC - Rights issue that does not comply with the mandatory timing and procedural requirements under company law, and which reduces majority shareholders into minority and transfers control, constitutes oppression: NCLT (See 'Legal Desk') DFS highlights mechanism for Timely Redressal of Insurance Policyholders' Grievances (See 'Corp Brief') CCRAS-NIIMH signs MoU with Sevadhi Museum and Indological Research Institute for Digitization (See 'Corp Brief') IBC - Second proviso to Rule 30(9) of Companies (Incorporation) Rules, 2014, acts as mandatory statutory bar, which prevents Regional Director from allowing shifting of registered office while appeal against resolution plan is pending: HC (See 'Legal Desk') Over 2 Lakh Villages, Now 'Har Ghar Jal' Certified (See 'Corp Brief') Companies Act - Assets of a company belong to the entity and its creditors, not its shareholders; transfer of company assets seemingly to place them beyond creditors' reach is impermissible: HC (See 'Legal Desk') MSDE convenes India-Japan Stakeholder Consultation to strengthen skilling (See 'Corp Brief') Competition law - Dealership termination, even if commercially harsh, does not by itself become competition law violation unless there is material showing an anti-competitive agreement causing dominance and abuse: CCI (See 'Legal Desk') Tete-a-tete around AI in banking sector often begins with algorithms (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.