In January 2024, the index of mineral production in the mining and quarrying sector, based on a 2011-12 scale, recorded a notable increase, reaching 144.1, which marks a 5.9% rise compared to January 2023. According to preliminary data released by the Indian Bureau of Mines (IBM), the cumulative growth for the April-January period of the 2023-24 fiscal year over the corresponding period of the previous year stands at 8.3%.
Throughout January 2024, significant production levels were observed for key minerals, including 998 lakh tons of coal, 41 lakh tons of lignite, 3,073 million cubic meters of natural gas, and 25 lakh tons of crude petroleum. Moreover, notable quantities of various other minerals such as bauxite, chromite, copper concentrate, gold, iron ore, lead concentrate, manganese ore, zinc concentrate, limestone, phosphorite, and magnesite were also recorded.
As reported by India Brand Equity Foundation, during January 2024, several important minerals demonstrated growth compared to January 2023, with magnesite showing the most significant increase at 90.1%. Other minerals that experienced growth include copper concentrate (34.2%), coal (10.3%), and limestone (10%). However, certain minerals such as gold, chromite, and phosphorite witnessed negative growth rates during the same period.
