- Economy
- Education And Career
- Companies & Markets
- Gadgets & Technology
- After Hours
- Healthcare
- Banking & Finance
- Entrepreneurship
- Energy & Infra
- Case Study
- Video
- More
- Sustainability
- Web Exclusive
- Opinion
- Luxury
- Legal
- Property Review
- Cloud
- Blockchain
- Workplace
- Collaboration
- Developer
- Digital India
- Infrastructure
- Work Life Balance
- Test category by sumit
- Sports
- National
- World
- Entertainment
- Lifestyle
- Science
- Health
- Tech
Mining And Quarrying Sector Witness Growth In April
However, several minerals experienced declines during the period, with Petroleum (crude) down 3.6 per cent, Natural Gas (U) down 2.8 per cent, Gold down 8.1 per cent, and Lignite down 21.2 per cent.
Photo Credit : PIB Ministry Of Mines / Twitter
The mining and quarrying sector in India has registered a significant boost in mineral production during the month of April 2023, with the index reaching 122.5, marking a remarkable 5.1 per cent increase compared to the same period last year (April 2022), as per data from the Indian Bureau of Mines (IBM).
Notably, nine crucial minerals have been at the forefront of this upswing, showcasing robust growth rates during April 2023 in comparison to April 2022. Phosphorite, an essential mineral, leads the pack with an impressive growth rate of 29.1 per cent, followed closely by Magnesite at 27.7 per cent. Iron Ore, a crucial resource for various industries, experienced a substantial upsurge of 13.1 per cent, while Limestone recorded a notable increase of 12.7 per cent.
Copper Conc. experienced a healthy growth of 12 per cent, Lead Conc. rose by 10.6 per cent, and Coal, which remains one of the country's primary sources of energy, surged by 8.8 per cent. Additionally, Manganese Ore and Zinc Conc. witnessed growth rates of 6.9 per cent and 4.1 per cent, respectively, indicating a well-rounded expansion across various sectors of the mining and quarrying industry.
However, some minerals faced challenges during the same period. Petroleum (crude) experienced a slight decline of 3.6 per cent, while Natural Gas (U) decreased by 2.8 per cent. Gold, a precious metal, recorded a decrease of 8.1 per cent, and Lignite, another essential source of energy, faced a notable decline of 21.2 per cent.
The most significant dip in production was observed in Bauxite and Chromite, with declines of 24.7 per cent and 40.1 per cent, respectively. Despite these challenges, the overall growth in the mineral production index remains positive, providing optimism for the sector's future performance.
The cumulative growth for the period from April 2022 to April 2023 exhibited a commendable 5.8 per cent increase over the corresponding period of the previous year, reflecting steady progress and resilience in the mining and quarrying industry.