Michaeal's blog

The value of metallic minerals in 2009-10 at `32274.29 crore decreased by about 10.52% over the previous year. Among the principal metallic minerals, iron ore contributed `26864.84 crore or 83.24%, zinc concentrate `1290.85 crore or 4.0%, manganese ore `1269.54 crore or 3.93%, chromite `1183.41 crore or 3.67%, bauxite `456.36 crore or 1.41%, copper (concentrate) `362.54 crore or 1.12%, silver `338.84 crore or 1.05% and gold `331.39 crore or 1.03%, while the remaining was shared by Lead Concentrates and Tin Concentrates.

The mining industry benefits Indonesia in many ways. Perhaps of most significance is the development of many remote regions of Indonesia, which otherwise may not have occurred to such an extent, or at such a pace. Mining companies are in many cases the only significant employer in some of these remote areas.

The latest Mongolia Mining Report expects that mining sector output will grow to US$11.5 billion by 2015, marking a fourfold increase from 2010 levels. Most of this rapid growth will occur in 2012 and 2013 as the Oyu Tolgoi mine comes on line. It sees a dramatic reversal of the trend of static growth in mining output, with rapid rates of growth across the mining complex over the coming years.