India's Mineral Production Surges by 13.1% in October 2023

New Delhi, Jan 2 (KNN) India's mineral production index for October 2023 recorded a significant 13.1 per cent increase compared to the same month last year, as reported by the Ministry of Mines.

Provisional statistics from the Indian Bureau of Mines revealed a cumulative growth of 9.4 per cent year-on-year for April-October.

Key minerals such as iron ore, manganese ore, gold, coal, limestone, zinc concentrate, natural gas, magnesite, lead concentrate, and crude petroleum experienced notable production improvements. Notably, iron ore's value surged from Rs 3,518 crore to Rs 8,411 crore.

However, the ministry acknowledged declines in the production of certain minerals like lignite, copper concentrate, bauxite, chromite, and phosphorus in October.

The government's initiatives to enhance critical mineral production, outlined in a list of 30 minerals, include essential elements like tin, molybdenum, graphite, and nickel.

These minerals find applications in diverse sectors, from aerospace and construction to electronics, energy storage, and electric vehicles.

The heightened focus on critical minerals aligns with India's strategic goals for energy transition and the bolstering of domestic manufacturing capabilities.

(KNN Bureau)