Boston, MA -- (SBWIRE) -- 06/02/2014 -- 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.

Report Highlights

- 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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Report Scope

The report contains an overview of the Indian iron ore mining industry together with the key growth factors and restraints affecting the country's iron ore mining industry. Further, it provides detailed information about production, prices, reserves, reserves by regions, competitive landscape, major active, exploration and development projects, consumption and trade. Also included is the country's fiscal regime, which includes governing bodies and relevant laws, rights and obligations of the mining companies, as well as key fiscal terms.

Reasons to Get this Report

Companies Mentioned in this Report: National Mineral Development Corporation Ltd, Steel Authority of India Ltd, Sesa Sterlite Ltd, Odisha Mining Corporation Ltd, Tata Steel Ltd

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