Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
India's non-critical mineral imports increased by over 80% over five years to ₹68,633 crore in FY24. Imports fell 2% year-on-year from ₹70,125 crore. In FY19, imports totalled ₹38,604 crore. Copper ore concentrates, phosphorite, manganese ore, limestone, iron ore, bauxite, asbestos, sulphur, magnesite, and fluorspar are a few of these important minerals. These ten minerals are responsible for 97% of mineral mineral imports.
In terms of volume, India's imports of these 10 primary minerals climbed 9% over a 5% period to 619.42 lakh tonnes from 570.34 lakh tonnes and 17% year on year from 528.25 lakh tonnes.
Copper ore concentrate imports continue to be the largest, accounting for ₹25,951 crore or roughly 40% of total major mineral imports in FY24. Over the last five years, imports have more than doubled from ₹12,146 crore. Phosphorite accounted for approximately 20% (₹12,649 crore) of the total. According to the Mines Ministry's report to Parliament, imports more than doubled in five years, from ₹5,625 crore.
The top three imports were manganese ore, limestone, and bauxite, worth ₹7,760 crore, ₹6,616 crore, and ₹4,397 crore, respectively. However, between FY19 and FY24, shipments of bauxite and manganese ore climbed by 60–80%, while imports of iron ore dropped.
In terms of volume, limestone imports were the largest at 338.09 lakh tonnes, accounting for 55% of total imports, followed by phosphorite at 55.98 lakh tonnes (14%).
Also Read : GPIL Maintains Stable Pellet and Iron Ore Output in FY 2024-25 Incentives, investments in tech, infra must for developing India's critical mineral sector: GTRI
Woodfield Systems International (WSI), a developer and manufacturer of bulk gas and fluid management...
Large Corporate 27-Feb-2024
Following the Ram temple ceremony in Ayodhya, Prime Minister Narendra Modi launched a scheme to inst...
Renewables 23-Jan-2024
The state government has started the process to get environment clearance for the second and third p...
Logistics 23-May-2024
Germany's steel industry experienced an impressive surge in January, with sales increasing by a stag...
Business 25-Feb-2025
An agreement has been signed between NLC India Limited and the government of Rajasthan to form a joi...
Renewables 11-Mar-2024
Odisha produced 41.9% of total mineral production (excluding fuel oil and atomic minerals) in the co...
Raw Material 29-Jul-2024