Production of Iron ore in India reached 257.56Million Tonnes in 2023
Production grew by a CAGR of 8.08% between 2020 to 2023,and is expected to decline by...
GlobalData projects the production to decline at a CAGR of...
Iron ore Production in India
India is endowed with metallic, non-metallic and atomic minerals. The Geological Survey of India (GSI) classifies iron ore formation across five zones, based on geological, geographical and commercial grounds. The majority of this is hematite ore, which is predominantly found across the Indian states of Odisha, Jharkhand and Chhattisgarh.
India’s iron ore production fell in 2020 in respect to 2019, mainly due to the decline in output from the country’s largest-producing state of Odisha. The delay in the auctioning of mines in Odisha – which were to be held in March 2019 – due to the lack of clarity on the maximum lease area, impacted production in the state.
The National Mineral Development Corporation (NMDC) Ltd, the Steel Authority of India Ltd (SAIL), Tata Steel Ltd and Odisha Mining Corp. Ltd (OMC) dominate the Indian iron ore mining industry.
Iron ore production
After several years of growth, India’s iron ore production fell in 2020. This fall was primarily due to the lower output from the state of Odisha. However, there were also declines in output in other major producing states such as Chhattisgarh, as well as Karnataka and Jharkhand. The delay in the auctioning of mines in Odisha, which was to take place in March 2019, due to the lack of clarity on the maximum lease area, has impacted production in Odisha. The decline was partially offset by the Indian government’s decision to allow new owners to start and continue operations until they have acquired fresh forest and environmental clearances, which could have taken up to three years.
The National Mineral Development Corporation Ltd, Steel Authority of India (SAIL), Tata Steel Ltd and Odisha Mining Company (OMC) are the top iron ore-producing companies in the country.
Key Iron ore producer
Tata Steel Ltd (Tata Steel) is a diversified and integrated steel company, headquartered in Mumbai, Maharashtra, India. It has operations across the end-to-end value chain that extend from mining to finished steel goods. The company offers flat products, construction products, agricultural implements and bearings. It serves various market segments, including construction, automotive, general engineering, industrial and agriculture. It also operates captive iron ore mines and collieries at sites around Jamshedpur and Kalinganagar in India. The company also has a presence in various value-adding downstream businesses. It operates major production facilities in India, the UK, the Netherlands, Thailand, Singapore, China and Australia.
The company owns and operates seven iron ore captive mines, including the Joda East, Katamati, Noamundi, Khondbond, Khandbandh, Vijay – II Iron Ore and Quarry AB mines across Odisha and Jharkhand.
Other notable Iron ore producers are:
Switzerland
China
Japan
Luxembourg
South Korea
Japan
United Kingdom
Australia
Japan
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