H1 Iron ore output jumps 25.8% to 84 million tonnes
The mining sector has seen a healthy growth in the current fiscal, a top government official said here on Wednesday. “Iron-ore production in the first half of the current fiscal (April-September 2017) was up by 25.8 per cent to 84 million tonnes,” Union Mines Secretary Balvinder Kumar said on the sidelines of CII-organised IMME & Mining Conclave here. He said exports have also jumped up sharply to 7.5 million tonnes during April-August 17’ compared to 5.45 million tonnes in the entire last year.
Import during the first five months of the fiscal was down to 1.59 million tonnes compared to 7.09 million tonnes in 2015-16, he said. Heavy construction equipment maker Tata Hitachi also saw 40 per cent growth in sales in the current fiscal. “We have seen a growth of 40 per cent in sales in the current fiscal so far, but from a low base,” Tata Hitachi managing director Sandeep Singh said.
Kumar said the Centre wants sustainable mining and for that it has introduced a star rating system. “We will allow three years to each mines to meet at least a four star rating, be it PSUs or private mines,” he said adding the template for the rating was ready and the mines need to submit their data online by the end of November. On mines auction, Kumar said 17 mines have been auctioned so far and more were lined up.