India’s Q1 FY17 bauxite production down 16% YoY, overall mineral production up 14%

<p>According to the provisional mining data (yet-to-be-released) reviewed by InfraCircle, India&rsquo;s overall mineral production during the first quarter of 2016 has increased 14 per cent to reach 138.53 million tonnes (MT) compared with 121.11 MT during the same period last year.<br /><br />The value-wise growth, however, has gone down by 4 per cent to total at INR9,758.96 crore compared with INR10,180.7027 crore in the corresponding period previous year.<br /><br />The rise in mineral production comes at a time when the two-year old government, credited with setting up a template for natural resource allocation in India, aims to speed up auction processes across the states to increase mineral production.<br /><br /></p> <p><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/bauxite%20mines.jpg" alt="News" width="400" height="300" /></p> <p><br />Despite severe volatility in the commodity prices in the global market, India&rsquo;s mineral in FY 2015-16 grew by 9 per cent to 495 MT. On the other hand, the growth in terms of value decelerated by 11 per cent to INR39,767.3 crore during that period.<br /><br />According to provisional data released by India&rsquo;s ministry of mines, India&rsquo;s metallic mineral production, including ferrous metal ore, bauxite, and other base metals rose by 30 per cent to 56.88 MT during the first quarter of FY2017 compared with 43.73 MT during the same period of FY2016.<br /><br />It is to be noted, however, that bauxite production in the last quarter has taken a hit. Production was down by 16 per cent to 7.013 MT compared with 8.384 MT during Q1 FY2016, while value-wise growth decelerated 13 per cent to stand INR 370.499 crore. <br /><br /></p>