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Iron Ore Mining in India to 2021 - Iron Ore Industry to Pick up Pace, Aided by Strong Steel Demand and Rapid Economic Growth

Iron Ore Mining in India to 2021 - Iron Ore Industry to Pick up Pace, Aided by Strong Steel Demand and Rapid Economic Growth

  • August 2017
  • 48 pages
  • ID: 5094608
In this report:
According to the US Geological Survey (USGS), India was the world's fifth-largest country in terms of crude iron ore reserves at ##.## billion tonnes (Bnt) as of January 2017, accounting for ##.##% of the global share.
India's iron ore consumption reached ##.##Mt in 2016, up by ##.##% over 2015, owing to a ##.##% increase in the country's crude steel production.

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Iron Ore Mining in India to 2021 - Iron Ore Industry to Pick up Pace, Aided by Strong Steel Demand and Rapid Economic Growth

Brief

India (IN) is endowed with metallic, non-metallic, and atomic minerals, among others. Accounting for 4.80 percent of overall iron ore reserves, the country was the 5th-largest producer as of January 2017. The majority of this is hematite ore, which is predominantly found across the Indian states of Odisha, Jharkhand, and Chhattisgarh.

Since 2010, the Indian iron ore industry has been severely impacted by stringent government rules, especially in Goa and Karnataka. The country's iron ore output saw a main downfall between 2010 and 2013. However, after production limits were revoked, the supply started to recover in 2014. Over the forecast period 2017-2021, India's production is anticipated to grow at a CAGR of 4.40 percent, attributed to the commencement of different iron ore mines and the expansion of existing ones.

During 2016, iron ore consumption in India (IN) grew by 1.70 percent because of a 6.70 percent increase in the country's crude steel production. During the same year, 98.50 percent of the iron ore was consumed by the iron and steel industry. The country's demand for iron ore is primarily driven by the domestic steel industry. With strong growth in the country's infrastructural and construction activities, India's iron ore consumption is anticipated to post a forecast period Compound annual growth rate of 8.20 percent.

India imports iron ore from South Africa (ZA) and Brazil (BR) and, in 2016, these two countries together accounted for 97.70 percent of global iron ore imports. China (CN), on the other hand, is the biggest export partner for India (IN), which accounted for 96.90 percent of the global iron ore exported from the country during the same year. Over the forecast period, the country's iron ore exports are anticipated to grow at a compound annual growth rate (CAGR) of 12.0 percent, while imports are anticipated to post a forecast period Compound annual growth rate of 0.60 percent.

Country's mining industry is governed by the Ministry of Mines, the Indian Bureau of Mines, and the Geological Survey of India. The Mines and Minerals (Development and Regulation) Amendment Bill 2015, which came into effect on January 12, 2015, and the Mines Act 1952, together with the rules and regulations framed, constitute the basic laws under which the Indian mining sector performs.

The market research "Iron Ore Mining in India (IN) to 2021 - Iron Ore Industry to Pick up Pace, Aided by Strong Steel Demand and Rapid Economic Growth", contains an overview of the Indian iron ore mining industry together with the top factors affecting the industry and demand for the commodity. Moreover, it offers info about reserves, reserves by grade and state, historic production and production forecast, production by form and state, historic and forecast iron ore consumption and exports vs crude steel production, export and import of iron ore by grade and country, iron ore prices, specification of grades of iron ore lumps and fines at point of export, the challenging landscape and active, exploration and development iron ore projects.

Firms mentioned in this industry report: National Mineral Development Corporation Ltd, Steel Authority of India Ltd, Vedanta Ltd, Odisha Mining Corporation Ltd

Overview

- Summary of the country's mining industry across several parameters - reserves, production, consumption, trade, ambitious landscape, regulatory scenario and the future potential.

- Iron ore production, consumption and trade numbers from 2000-2016 and estimate for next five years to 2021.

- Production split by form and consumption split by end use sectors.

- Policies and regulatory framework governing the industry.

- Company details, including company overview, business overview and info on main active, exploration and development iron ore projects.

- Develop strategies established on the recent regulatory events

- Identify different factors affecting the iron ore demand.

- Identify main operating companies' and obtain the business structure, strategy and prospects.

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