core sector communique

National Steel Policy for Steel Production

The Minister of Steel, Shri Beni Prasad Verma has said that National Steel Policy 2005 has estimated domestic steel production to be 110 Million Tonnes Per Annum by 2019-20. In a written reply in the Rajya Sabha today the Minister said, during the Year 2011-12, the country’s total production of iron ore was approximately 169.66 million tonnes as against the total estimated consumption of about 116.3 million tonnes by the domestic iron and steel industry. As per the National Steel Policy 2005, 190 million tonnes of iron ore will be required to support production of 110 million tonnes of steel by the Year 2019-20. He said, as per Indian Bureau of Mines (IBM), Ministry of Mines, as on 1.4.2010, the iron ore ‘resources’ in the country are 28.526 billion tonnes, out of which 8.115 billion tonnes are ‘reserves’ and 20.411 billion tonnes are ‘remaining resources’.