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Metals & Mining
About Metal & Minig Industry
India holds a fair advantage in cost of production and conversion costs in steel and alumina. Its strategic location enables convenient exports to develop as well as the fast-developing Asian markets. India produces 95 minerals– 4 fuel-related minerals, 10 metallic minerals, 23 non-metallic minerals, 3 atomic minerals and 55 minor minerals. Rise in infrastructure development and automotive production are driving growth in the sector. Power and cement industries are also aiding growth in the metals and mining sector. Demand for iron and steel is set to continue, given the strong growth expectations for the residential and commercial building industry.
India is the 3rd largest producer of coal. Coal production stood at 676.51 million tonnes in FY18. India has the 5th largest estimated coal reserves in the world, standing at 308.802 billion tonnes in FY16. India ranks 4th in terms of iron ore production globally. In FY18, production of iron ore stood at 210 million tonnes. India has around 8 per cent of world’s deposits of iron ore. India stood as the third largest crude steel producer with output of 101.4 million tonnes in 2017. Crude steel production in the country rose to 102.34 million tonnes in FY18. According to Ministry of Mines, India has the 7th largest bauxite reserves- around 2,908.85 million tonnes in FY17. Aluminium production stood at 1.60 million metric tonnes during Apr-Sept 2017 and is forecasted to grow to 3.33 million tonnes in FY20.
Cumulative FDI inflows into the mining sector between April 2000 and December 2017 stood at US$ 14.005 billion as per Department of Industrial Policy and Promotion (DIPP). Vedanta Resources Plc is planning to invest around US$ 9 billion in India and create more than a million direct or indirect jobs in the country. Metals and Minerals Trading Corporation of India (MMTC) Ltd is in talks with the National Mineral Development Corporation (NMDC) to sign a new five-year pact for exporting 2.6 million tonnes of iron to Japan and South Korean industries. The Government of India is taking steps boost the country’s domestic steel sector and raise its capacity to 300 million tonnes (MT) by 2030-31.
Policy Regime
Under the Mines and Minerals (Development and Regulation) Act of 1957, FDI upto 100% under Automatic route is allowed for the mining and exploration of metal and non- metal ores including diamond, gold, silver, and precious ores, while FDI upto 100% under Government route is allowed in for mining and mineral separation of titanium bearing minerals and its ores.
Major players of the Industries
- Hindalco Industries Limited
- KIOCL Limited
- Ashapura Minechem Ltd.
- Maithan Alloys Limited
- MOIL Limited
- Narayani TMT
- NMDC Ltd.
- Coal India Limited (CIL)
- Vedanta Resources plc
Legal services of Preach Law LLP
The firm provides advice on cutting-edge issues that cover multiple legal and business disciplines. Our expertise and understanding of the business is the foundation for providing full range of legal services including:
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