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Accelerated mining in 2019
India’s iron ore mining production over is expected to grow at a CAGR of 7.2% to 271.2 million tons in 2024 following the commencement of new projects and the expansion of existing ones, such as the Kumaraswamy mine, the Daitari and Gandhamardhan mines and the Chiria iron ore mine.
In 2019, production is estimated to have risen by 14.2% to 234.9 million tons owing to the acceleration in mine production for several non-captive mines, especially from merchant miners due to the expiration of leases in March this year.
However, 2020 production is expected to decline to 205.7 million tons, said ResearchAndMarkets’ report “India Iron Ore Mining to 2024” released 29 May 2020.
Delay in mineral auctions in Odisha, coupled with regulatory approvals, will be a major concern for Indian miners.
The report was based on analysis of National Mineral Development Corporation Ltd, Steel Authority of India Ltd, Tata Steel Ltd and Odisha Mining Corp Ltd. fiinews.com
