India’s Mineral Production Rises by 9.8% in December 2022, Mines Ministry Reports
According to the Indian Ministry of Mines, the country’s mineral production increased by 9.8% in December 2022 compared to the same month in the previous year. The provisional figures of Indian Bureau of Mines (IBM) revealed that the index of mineral production of the mining and quarrying sector in December 2022 was 107.4, which is 9.8% higher than December 2021.
The cumulative growth for the period of April to December in the current financial year was 5.4%, the ministry added.
The production levels of significant minerals in December were coal at 833 lakh tonnes, lignite at 35 lakh tonnes, natural gas at 2,888 million cu. m, petroleum at 25 lakh tonnes, and bauxite at 2,272 thousand tonnes.
The mines ministry highlighted that minerals such as gold, phosphorite, iron ore, limestone, manganese ore, and coal demonstrated positive growth. However, some essential minerals, such as petroleum (-1.2%), bauxite (-9%), lignite (-10.7%), chromite (-11.5%), magnesite (-22.5%), and diamond (-38.6%) experienced negative growth.
India’s mineral industry plays a vital role in the country’s economy, contributing significantly to its Gross Domestic Product (GDP) and employment generation. This impressive rise in mineral production is expected to boost the nation’s economic growth, especially in the mining and quarrying sector.
For More Latest News Click Here
