The metal and mining industry of India has reached 305.5 billion in 2015. Production volumes have also been growing steadily over the years. The Government of India has allowed 100 per cent foreign direct investment (FDI) in the mining sector under the automatic route. Mining lease has been granted for a long duration of minimum 20 years and up to 30 years.
There is significant scope for new mining capacities in iron ore, bauxite, and coal in India. Untapped metal reserves in India are to the tune of 82 BT. Strong long-term demand from the steel industry is expected to further boost the iron ore industry.
2015 was one of the worst years on record for mining companies, hit by record-low commodities prices that forced them to axe jobs, dividends, production and sell assets.