There was nothing to cheer for Indian mining industry in FY 2012-2013. In a survey conducted by Steelmint on iron ore production in the country, it was estimated that iron ore production will fall to 140-145 million tons in 2012-2013, down by almost 25-30 million tons from last year's production (which was at 169 Mn tons in 2011-2012).
According to our estimates iron ore production in Odisha will land in the range of 50 million tons down by almost 15-16 million tons, primarily due to closure of major mines on account of violating environmental norms.
Karnataka will land near 17 million tons, major production coming from NMDC. Something to feel good as few “A” and “B” grade mines are expected to restart production in 2013-2014.
Goa will touch near 18-20 millions down by almost 50% from last year, after supreme court put a blanket ban on iron ore mining in September 2012.
Jharkhand and Chhattisgarh will contribute around 48-50 million tons in FY 13. Major producers were SAIL, TATA and NMDC.
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