Section 1 Mining industry in India Large listed state owned mining companies, integrated private mining metal companies, and independent holdings. SOMC dominate: 72% by value produced but differ by sector . A large part of the industry is fragmented
Indian Mining Industry has been a major mineral producer in Asia and globally. Currently it is the global producer of chromite, coal, iron ore and bauxite while enjoying economic growth during the nineties.
Indian mining industry provides job opportunities to around 700,000 individuals. As of 2012, India is the largest producer of sheet mica, 2015 the fourth largest producer of iron ore, alumina, chromite, and bauxite in the world. A coal and iron ore project is in the fifth largest reserve in world.
Largest Iron Ore Mining Company in India NMDC, incorporated in 1958, is the largest iron ore mining company in India. With iron ore production of around 32.36 million tonnes in FY 2018 19, it has a market share of about 22% domestically .
India has around 8% of worlds deposits of iron ore According to Ministry of Mines, India has the 7th largest bauxite reserves around 2,908.85 million tonnes in FY18. Aluminium production stood at 2.25 MT in FY19 and is forecasted to grow to 3.33 million tonnes in FY20.
The Indian mining industry has urged the government to reduce high export taxes on iron ore and bauxite, which are stifling the growth of the industry. Sunil Duggal, president of the Federation of Indian Mineral Industries, said that around 137 million tons of iron ore fines of 62% grade were lying unutilised at the mines
Indian Bureau of Mines Indian Bureau of Mines is a subordinate office under the Ministry of Mines. It promotes scientific development of mineral resources of the country, conservation of minerals, protection of environment in mines Its headquarters at Nagpur