Odisha collects highest Rs 10,000-crore mineral revenue


Bhubaneswar: The State has collected all-time high revenue of Rs 10,294.39 crore from the mineral sector during the year 2018-19, according to the Integrated Financial Management System (IMFS) statistics.

In 2017-18, generation of non-tax revenue from the mineral sector was Rs 6,130 crore.

Total mineral production reached 289.55 million tonne during 2018-19 against 270.84 MT during 2017-18.  The output of 2018-19 includes 118 MT iron ore, against 105 MT in the preceding year.

Similarly, permitted dispatch touched 140.9 MT against 125.9 MT during 2017-18.

Hikes in demand and price in the international market has helped Odisha to produce more minerals and generate more revenue.

Experts said that the global industry expects the demand to go up, which would support a positive price outlook for the industry.

In the country, domestic iron ore supplies would exceed the demand by around 25 MT, and the situation is unlikely to change materially in FY 2019-20, by end of which most of the merchant mining leases would expire.

The total iron ore requirement in India for Financial Year 2018-19 was 201.2 MT, while the estimated domestic iron ore production is 210 MT, said sources.

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