Mineral and Non-Ferrous Metal Production on a Growth Track in FY 2024-25
Introduction
In FY 2024-25, the global mineral and non-ferrous metal markets are experiencing robust growth. This article delves into the key developments in these sectors, highlighting their significance for economic activity across various industries.
Key Minerals: Iron Ore
Iron ore is a cornerstone of MCDR (Major Consumption Demand Regions) production, contributing 70% of total MCDR production by value. In FY 2024-25, iron ore production increased from 252 MMT in FY 2023-24 to 263 MMT, showcasing a healthy 4.4% growth. This growth is driven by strong user demand in the steel industry and related sectors.
Key Minerals: Mn Ore
The manganese ore sector also saw an increase of 12.8%, reaching 3.4 MMT from 3.0 MMT. This reflects continued demand, particularly for industrial applications requiring manganese.
Key Minerals: Bauxite
Bauxite production rose by 3.6% to 22.7 MMT in FY 2024-25, reflecting favorable demand conditions. The industry’s reliance on bauxite for construction and other needs further enhances its importance.
Key Minerals: Lead Concentrate
Lead concentrate production also grew by 3.5% to 352 THT from 340 THT, indicating strong user demand in the energy sector.
Non-Ferrous Metals: Aluminium
Aluminium production increased by 0.9% to 38.36 lakh LT, marking a significant boost for the global aluminium market. This growth underscores its pivotal role as the 2nd largest aluminium producer and the 4th largest iron ore producer globally.
Non-Ferrous Metals: Refined Copper
Refined copper production grew by 7.1% to 4.97 LT, solidifying its position among top-10 refined copper producers. Both aluminium and copper growth highlight continued economic activity across energy, infrastructure, construction, automotive, and machinery sectors.
Conclusion
The strong growth in mineral and non-ferrous metal production underscores the robust economic landscape of global industries. These developments underscore the significance of these minerals for sectors like energy and construction, offering compelling reasons for further investment and innovation.