Khattar meets Masato Kanda, President of ADB (See 'Corp Brief') Mandaviya to inaugurate Newly Constructed 30-bedded ESIC Hospital in HP (See 'Corp Brief') Ratlam-Nagda Third and 4th Rail Line Project to ease Rail Congestion (See 'Corp Brief') Yadav outlines 3 Pillars of India's Unique Climate Policy Architecture (See 'Corp Brief') Minister chairs 9th Governing Council Meeting of Bureau of Indian Standards (See 'Corp Brief') Misc - Approbation and reprobation by employees is not permissible in pension schemes: SC (See 'Legal Desk') Make-in-India played key role during Operation Sindoor: RM (See 'Corp Brief') IEPFA, SEBI to launch Pilot 'Niveshak Shivir' in Pune to Empower Investors (See 'Corp Brief') Vesting Orders issued for 7 Coal Blocks under Commercial Auctions (See 'Corp Brief') PC Act - Just because money changed hands, it cannot be ipso facto presumed that same was pursuant to demand for illegal gratification: SC (See 'Legal Desk') Chouhan launches 'Viksit Krishi Sankalp Abhiyan' at Bhubaneswar (See 'Corp Brief') Yoga Institutions unite with Ministries for Global Wellness Movement (See 'Corp Brief') ECI begins training of 373 grassroots election functionaries from 4 states (See 'Corp Brief') A&C - If complaint contains allegations of not providing documents which were made available to complainant in IGRP meeting, then based on incorrect statement recorded u/s 200 of CrPC, no process could have been issued by Trial Court: HC (See 'Legal Desk') MoS launches Rs 42 crore Port Development Projects at Deendayal Port (See 'Corp Brief') Deendayal Port Authority, KRIDA, and Global Kutch come together to revive Bhukhi River in Kutch (See 'Corp Brief') PMLA - Attachment of property does not effect or transfer title, unless property is confiscated and it can be when accused is convicted: SAFEMA (See 'Legal Desk') CPSEs and PSBs made it to final list under National Anubhav Awards Scheme (See 'Corp Brief') IBC - Only if Corporate Debtor raises plausible contention about pre-existing dispute, which is not just feeble legal argument, it would suffice for Adjudicating Authority to reject petition filed u/s 9: NCLT (See 'Legal Desk') 'Eco-Fishing Ports' in Focus: Govt and AFD hold Technical Dialogue (See 'Corp Brief') Union Minister chairs Textile Advisory Group meeting on Cotton (See 'Corp Brief') A&C - If non-signatory party actively participates in execution of contract and its actions are consistent with those of other members of group, it may create impression that non-signatory is effectively a party to contract, including arbitration agreement: HC (See 'Legal Desk') CCI okays merger of Ring Plus Aqua and Maini Precision into JK Maini Precision (See 'Corp Brief') CCI okays combination of JTPL, SCRTIPL, SC Ventures, Solv-India & Artal Asia (See 'Corp Brief') PMLA - Attachment proceedings are technically civil in nature, whereas only trial for commission of offence under Section 3 & 4 of PMLA in prosecution complaint is criminal trial: SAFEMA (See 'Legal Desk') MoFPI Secy advocates tech-driven Nutrition Tracking (See 'Corp Brief') IBC - Unless corporate debtor's demise is inevitable or winding-up proceedings under Companies Act have reached irreversible stage making revival impossible, every effort must be made to revive company: HC (See 'Legal Desk') Coal Imports in FY 2024-25 drops by 7.9 % (See 'Corp Brief') IBC - Mere classification of account as NPA does not constitute 'default' u/s 7 of IBC: NCLT (See 'Legal Desk') RM reviews performance of 8 DPSUs (See 'Corp Brief') India unveils 'Bharat Forecast System' developed by IITM (See 'Corp Brief') Limitation - Since IBC is not substitute for debt recovery forums like SARFAESI and IBC application's purpose is realization of debt, Sec 14 of Limitation Act is applicable and time taken for SARFAESI proceedings is excluded for calculating limitation period: HC (See 'Legal Desk') Union Food Minister to meet stakeholders on dark patterns (See 'Corp Brief') IBC - Failure on part of Resolution Professional in informing updated list of creditors, calls for levy of penalty: IBBI (See 'Legal Desk') Rising N-E Summit concludes on Successful Note (See 'Corp Brief') SARFAESI - Inter-creditor disputes between secured creditors must be resolved through arbitration and not before DRT: SC (See 'Legal Desk') CDS visits Northern & Western Commands HQs (See 'Corp Brief') IPR - Pre grant opposition filed after grant of patent is not maintainable, particularly when opposition is filed after Controller has signed order granting the patent: HC (See 'Legal Desk') ICG and Haldia Dock Complex conduct Marine Pollution Response Workshop (See 'Corp Brief') IBC - Commercial wisdom of CoC in approving Resolution Plan needs no interference by Adjudicating Authority/Appellate Tribunal unless Plan is violative of Section 30(2): NCLAT (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.