IRON ORE PRO­DUC­TION GROWS BY 18% TO 136 LT IN JULY

Resource Digest - - NEWS IN BRIEF -

Do­mes­tic pro­duc­tion of iron ore, a key raw ma­te­rial for steel mak­ing, rose by 18 per cent to 136 lakh tonne in July com­pared to the same month last year, of­fi­cial data showed. The coun­try had pro­duced 115 lakh tonnes of iron ore in July 2016, ac­cord­ing to the data re­leased by the Mines Min­istry.

On month-on-month ba­sis, iron ore out­put was down 16.56 per cent com­pared to 163 lakh tonne in June. The to­tal value of min­eral pro­duc­tion (ex­clud­ing atomic & mi­nor min­er­als) in the coun­try dur­ing July 2017 was Rs 18,037 crore and iron ore con­trib­uted Rs 2,069 crore to it.

In­dus­try body Fed­er­a­tion of In­dian Min­eral In­dus­tries (FIMI) said state gov­ern­ments ex­ert­ing pres­sure on min­ing com­pa­nies to raise out­put led to growth in iron ore pro­duc­tion in July.

“The rise was mainly in Odisha and Jhark­hand. This was be­cause of the state gov­ern­ments putting pres­sure on min­ing com­pa­nies to in­crease pro­duc­tion al­though the de­mand for iron ore at present is not ro­bust,” FIMI’S R K Sharma said.

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