Indian Iron Ore Production May Cross 180 MnT in FY17

Indian iron ore production, which was expected to have remained at 155 MnT in FY16, will increase further in the running fiscal. SteelMint anticipates India’s iron ore production to grow by 18% Y-o-Y and remain at 183 MnT in FY17. Below are the projected figures for India’s state-wise iron ore production for FY17-

Odisha – India’s largest iron ore producing state – Odisha is expected to up its iron ore production from 75 MnT in FY16 to nearly 85 MnT in FY17. As existing mining leases have been asked by Odisha govt. to raise their production in order to meet the laid targets which will further boost the state’s ore production.

Chhattisgarh – Iron ore production of Chhattisgarh is expected to touch 30 MnT in FY17. Out of this, we expect NMDC to produce 20 MnT iron ore from its Bailadila mines and the remaining attributes to captive miners.

Karnataka – Karnataka’s iron ore production is expected to ramp up by 16% Y-o-Y in FY17. NMDC’s iron ore production from Donimalai and Kumaraswamy mines is expected to remain around 12 MnT, Mysore Minerals – 4.06 MnT and that of private miners is expected to remain at around 12.9 MnT. Thus making the state’s total production to remain around 29 MnT.

Goa – Following resumption of fresh mining activities in the state in FY16, state’s iron ore production will increase further in FY17. Last fiscal Goa produced 7 MnT ROM which is likely to increase to 15 MnT in FY17.

Jharkhand’s iron ore production is anticipated to remain at 19 MnT. Considering ore production of other states namely (Madhya Pradesh, Andhra Pradesh, Rajasthan and Maharashtra) to remain around 5 MnT, India’s iron ore production may touch 183 MnT in FY17.