Mineral production up by 2.3% in November 2015

Six minerals contributed to about 95% of the total value of mineral production during November 2015

The Dollar Business Bureau 

  India’s mineral production increased by 2.3% in November last year compared to the output of the same month in 2014 and the total production value crossed Rs.19.300 crore. The index of mineral production of mining and quarrying sector for November stood at 131.5, which is higher by 2.3% compared to November 2014, Mines Ministry said in a statement. The cumulative growth in mineral production during April-November of the current financial year also went up by 2.1% over the corresponding period of previous year. While coal with total production value of Rs.8266 cr (43%) was the highest contributor to overall production during the month, crude petroleum came second with Rs.5525 cr, followed by natural gas (utilized) at Rs.2177 crore, and iron ore at Rs.1791 crore. Other major contributors were limestone at Rs.463 crore and lignite at Rs.286 crore, the government data said. These six minerals together contributed about 95% of the total value of mineral production during November 2015. Those minerals that witnessed positive trend in production during November 2015 over November 2014 included chromite (124%), copper conc. (38%), apatite & phosphorite (21.7%), lead conc. (18.9%), bauxite (17.7%), and magnesite (13.6%). Minerals that saw negative trend are lignite (-30.6%), diamond (-25.4%), gold (-19%), manganese ore (-8%), zinc conc. (-4.5%), natural gas (utilized) (- 3.4%) and petroleum (crude) (-3.3%). To ease mining and exploration norms, the government has been taking various measures like bringing in new amendments to the existing Act and auctioning of mines. The Ministry of Mines has also put the draft of the Mines and Minerals (Development and Regulation) (Amendment) Bill, 2016, seeking stakeholders’ comment for amendments in the existing Mines and Minerals (Development and Regulation) Act, 1957. The proposed law is aimed at allowing the transfer of mining leases, facilitate mergers and acquisitions of companies, and improve ease of doing business to increase profitability and decrease costs of the companies dependent on supply of mineral ore from captive leases.  

January 19, 2016 | 2:50pm IST

The Dollar Business Bureau - Jan 19, 2016 12:00 IST