Manganese and Chrome are essential raw materials for steel-making, ferro-alloys as well as other products vital for any modern economy. With abundant resources, there is huge potential in the Indian manganese / chrome ore and ferro-alloy sector.
India is now sixth largest producer of manganese ore in the world, with abundant resources to the tune of 495 million tonnes. However, annual production of manganese ore in the country in the year 2017-18 was 3.10 million tonnes. Meanwhile, imports have increased and gone up to the level of 3.56 million tonnes during the year 2017-18. Import of manganese ore at much higher prices than what is prevailing in the domestic market without any restrictions on quantity is affecting the miners who are operating at very low level of production.
India is the fourth largest producer of chrome ore in the world, with domestic production rising from 2.87 million tonnes in 2013-14 to 3.46 million tonnes in 2017-18. Resources of chrome ore in the country are estimated at 344 million tonnes. India historically has been an important player in the global chrome ore market. With a focused and progressive market development strategy, it is possible for India to improve its market share and tap new markets.
Imports of these raw materials are allowed freely despite the country having ample resources of these minerals with enough mining capacity and most competitive prices, but exports have been made unviable with heavy export duty and quantitative ceilings.
Although India has been a major producer of ferro-alloys globally, production of ferro-chrome was about 1 million tonnes and ferro-manganese was 0.52 million tonnes in the year 2016-17, whereas that of ferro-silicon stood at 0.09 million tonnes in the same year. This is despite a total capacity of 5.15 million tonnes of the ferro-alloy industry. Clearly, there is a huge competition from the global market and the industry must utilize its full potential and rise to new levels of technological competitiveness and productivity. The domestic ferro-alloys industry needs to be promoted through a mix of progressive market development strategies and suitable fiscal measures to offset cheaper imports.
This event will provide a unique platform for the manganese / chrome ore and alloy producers, consumers to discuss, technological developments, legislative issues, research and market trends. Producers, consumers buyers and traders will have the opportunity to discuss and review supply and demand related issues in open forums and private meetings. It will also provide ample opportunity to mining / metal technology and equipment suppliers to promote their products.