Dallas, Texas (PRWEB) May 20, 2014
Iron Ore Mining in India to 2020
India is one of the leading producers of iron ore, with estimated total resources of over 28.5 billion tons (bt) of hematite (Fe2O3) and magnetite (Fe3O4) taken together. Of the 294 iron ore mines in 2012, compared to 336 in 2010, 34 were in the public sector while the remaining 260 were owned by private firms in 2012. In 2013, production was estimated at 142.9 million tons (Mt), which is expected to increase to 284Mt in 2020, growing at a compound annual growth rate (CAGR) of 7.4%. Simultaneously, iron ore consumption over the forecast period (2014–2020) is projected to increase to 238.3Mt in 2020.
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India is one of the leading producers of iron ore, with estimated total resources of over 28.5 billion tons (bt) of hematite (Fe2O3) and magnetite (Fe3O4) taken together. Of the 294 iron ore mines in 2012, compared to 336 in 2010, 34 were in the public sector while the remaining 260 were owned by private firms in 2012.
The Supreme Court of India, on April 21, 2014, lifted a 19-months old ban on mining in Goa, the top iron ore exporting state. The ban was imposed to protect against illegal mining activities and to achieve its objective, the panel appointed by the Supreme Court suggested capping production at 20Mt.
India has substantial iron ore resources, with significant deposits of hematite and magnetite. Around 59% of hematite ore deposits are found in the east, while 92% of magnetite ore deposits occur in southern India, especially in the state of Karnataka.
India’s forecast iron ore production measured 142.9Mt in 2013, a marginal increase of 2% over 2012. Since 2000, iron ore production increased substantially from 80.7Mt to a high of 218.6Mt in 2009 but reported a downward trend after this due to a mining ban in states such as Karnataka and Goa. India’s iron ore production is projected to grow at a CAGR of 7.4% over 2014–2020 to reach 284Mt in 2020.
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Coal Mining in India to 2020
India is one of the three leading coal producers in the world with production of 615 million tons (Mt) in 2013, an increase of 3.4% over 2012. India’s coal production mainly originates from states such as Chhattisgarh, Jharkhand, Orissa, Madhya Pradesh, Andhra Pradesh and Maharashtra. During FY2011–2012, Chhattisgarh accounted for the largest volume of non-coking coal production in the country, followed by Orissa, Madhya Pradesh, Jharkhand, Andhra Pradesh, Maharashtra, West Bengal and Uttar Pradesh. The state of Jharkhand alone had a share of more than 98% of the country’s coking coal production while the rest was contributed by Madhya Pradesh, Chhattisgarh and West Bengal.
Complete report of Coal Mining available at http://www.rnrmarketresearch.com/iron-ore-mining-in-india-to-2020-market-report.html.
Upcoming and ongoing coal projects are expected to improve the volume of coal production over the forecast period 2014–2020. During the 12th FYP, CIL identified a number of projects with a view to increasing production to 556.4Mt in 2017.
Modernization initiatives undertaken by the CIL are expected to enhance coal production. CIL will implement contemporary technology such as draglines, shovel-dumpers and surface mining. An Operators Independent Truck Dispatch System (OITDS) has also been introduced in several opencast mines to improve productivity.
According to the Comptroller and Auditor General’s (CAG) report, a massive coal allocation scam took place that allowed a large number of private companies to acquire captive coal blocks at throwaway prices which resulted in an estimated loss of INR1.8 trillion (US$29.3 billion) to the exchequer.
The Ministry of Environment and Forest (MoEF) has adopted some policies such as Comprehensive Environmental Pollution Index (CEPI), ‘Go, No-Go’ under which the areas are prohibited for mining with high pollution index.
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