India: Odisha Iron Ore Production Soared 24% Y-o-Y in FY17

Odisha – India’s largest iron ore producing state has exhibited sharp increase of 24% Y-o-Y in FY17. In FY16, India’s iron ore production was recorded at 155.89 MnT out of which share of Odisha was around 50%. Ramped up iron ore output from existing mines resulted in sharp increase in Indian iron ore production last fiscal. According to SteelMint’s analysis, India’s iron ore production is expected to touch 190 MnT in FY17.

Odisha’s iron ore production climbed to all time high in FY17. The output increased from 75.75 MnT in FY16 to 94.17 MnT in FY17. State’s captive iron ore production escalated by 17% Y-o-Y while merchant iron ore production moved up by 27% Y-o-Y in FY17.

Increased iron ore dispatches in domestic market coupled with sharp hike in exports from Odisha based miners resulted in sharp rise in state’s iron ore production.

Amongst merchant iron ore producers in Odisha, Rungta Mines remained the largest producer and registered increase of 30% Y-o-Y to 22.87 MnT in FY17. Other major merchant iron ore producers were Serajuddin Mines – 10.89 MnT (up 7% Y-o-Y) and KJS Ahluwalia – 5.61 MnT (up 39% Y-o-Y).

State-owned miner – Orissa Mining Corporation (OMC) produced 4.08 MnT iron ore in previous fiscal compared to 4.18 MnT in FY16.

Tata Steel’s iron ore production from Odisha increased 28% Y-o-Y to 11.85 MnT in FY17 and that of SAIL moved up from 6.45 MnT in FY16 to 6.96 MnT in FY17.

Mine-wise Odisha Iron Ore Production : FY17 vs FY16

Fig in MT & includes material type of fines, lump and concentrate
Provisional data
Source: Odisha govt, SteelMint Research