Odisha has hit the jackpot! Recent surveys by the Geological Survey of India (GSI) have found gold deposits in three districts of Odisha. State Steel and Mines Minister Prafulla Mallik said the gold reserves were found in Deogarh, Keonjhar, and Mayurbhanj. After confirming lithium reserves in Jammu and Kashmir last month, the indication of gold reserves in Odisha is an important achievement for the country.

As of 2022, India is home to around 1,245 reporting mines. While 525 of these are reporting mines for

metallic minerals, the rest, about 720, are mining non-metallic minerals. India also has around 914 steel plants producing crude steel. In FY22, mineral production is estimated at Rs.190,392 crore ($ 24.95 billion). According to IBEF, India’s crude steel production stood at 71.3 MT in FY23 (until October 2022).

The sudden rise in infrastructure development and automotive manufacturing has been a solid tailwind for the mining industry. The increasing demand from the power and cement industries is also playing its part. Given the infrastructure development roadmap of our country, it’s beyond any reasonable doubt that the consumer demand for iron and steel will continue. In November 2022, the government removed export duties on steel and stainless steel to strengthen the nation’s steel sector and allow it to establish its position in the global market firmly. But to leverage these opportunities, the mining organizations need to act smart. It’s imperative that they leverage everything from smart mining concepts and improving safety using drones to digitization and automation.