The domestic production of iron ore is sufficient to meet the current demand and requirements of the domestic iron and steel industry, the centre said
The crude steel production grew at 4.4 per cent annually (compound annual growth rate) from 88.97 MT in 2014-15 to 120.29 MT in 2021-22, said Minister of Coal, Mines and Parliamentary Affairs Pralhad Joshi in a written reply in Lok Sabha on Wednesday.
Further, he cited data and said that the domestic production of iron ore is sufficient to meet the current demand and requirements of the domestic iron and steel industry.
“The government has not limited the expansion of mines by amending the renewal of licences rule in the Mineral Concession Rules in the country including Rajasthan. Rather, a uniform lease period of 50 years has been prescribed to ensure certainty in the mining lease period,” Joshi said.
The production data of iron ore for Rajasthan for the last three years is 1.01 MT in 2019-20, 1.08 MT in 2020-21 and 1.23 MT in 2021-22.