20 Best Mining Companies In India (2023)

Looking for the best mining companies? Here in this post, we’ve curated the list of the top 20 top mining companies in India based on their range of services, business operations, market capitalization, and more.

With a total of 1,425 reporting mines (FY22) in India, 545 mines are metallic mines and the rest are non-metallic mines.

This growing sector is largely dependent on domestic infrastructure and automotive production, which we can see in India.

Also, India produces around 95 minerals with the reputation of being the 3rd and the 4th largest producer of coal and iron ore respectively.

Talking about the market size as per FY22, Coal Production stood at 777.31 MT, Iron Ore Production stood at 204.48 MT, Crude Steel Production is 155 MT, and Aluminum Production stood at 3.82 MT.

As per the latest incentive by GOI, funds of Rs. 6,322 crores for 5 years are allowed under the Production-Linked Incentive to boost steel production in India.

Many Mining Companies in India manage to keep this position impacted by their work in the processing and production industry with the help of 1,000s of dedicated employees.

The mining companies mentioned in this list have contributed significantly to the Indian industry.

Best Mining Companies in India [2023]

Here is the list of top mining companies in India based on revenue, years of experience, and quality standards. So without further ado, let’s take a closer look at all these best mining companies.

1. Coal India Limited

Coal India Limited is a public sector undertaking headquartered in Kolkata and is the largest coal-producing company. It contributes 82% of the country’s total coal production. It has 214 coal mines and 12 cake ovens.

It was formed to enable better operational efficiency of coal production. The company has 12 subsidiaries in the Indian subcontinent. Indian government held 100% shares till 2010.

The total number of employees around 272,455 who work for the company’s mission and goal. The company planted around 1.57 million samplings in the year 2014-2015. These mines include 48 open-cast and 21 combined mines making it one of the top mining companies in India.

2. Hindustan Zinc

Hindustan Zinc is one of the world’s largest mining companies in India and India’s only integrated producer of Zinc-Lead and Silver. Its headquarter is at Udaipur, Rajasthan where it has its Zinc-Lead mines and smelting complexes.

Hindustan Zinc is self-sufficient in power with captive thermal power plants and also has ventured into green energy by setting up wind power plants.

Hindustan Zinc’s mines are located at Rampura Agucha, Sindesar Khurd, Rajpura Dariba, Zawar, and Kayad in the state of Rajasthan.

The current ore production capacity today stands at 12 million tonnes per annum. The Company is aggressively expanding its mining capacities, implementing six ongoing major mining projects.

The Company’s total metal production capacities currently stand at 843,000 tonnes of Zinc, 201,000 tonnes per annum of Lead, and 600 tonnes of Silver, which are all being de-bottlenecked to achieve a smelting capacity of 1.2 million tonnes per annum.

3. Hindalco Industries

Hindalco Industries Limited is the metals flagship company of the Aditya Birla Group and one of the best mining companies in India. The company is an US$18 billion metals powerhouse, which is an industry leader in aluminum and copper. The company is also involved in Chemicals, Dry cargo handling, fertilizers, acids, and more.

The company is actively involved in resource mining of coal and bauxite, alumina refineries located in Utkal, Renukoot, Muri, and Belagavi. Alumina produced from these facilities is largely utilized for our internal operations to manufacture aluminum.

Moreover, the company covers the aluminum Smelting operations that are located at Renukoot in Uttar Pradesh, Aditya Aluminium in Odisha, Mahan Aluminium in Madhya Pradesh, and Hirakud in Odisha with the production of 1.3 Million tons of primary aluminum in a year.

4. Tata Steel Mining Ltd. (TSML)

Tata Steel Mining Ltd. (TSML), formerly known as TS Alloys is a 100% subsidiary of India’s pioneering brand TATA Steel. We specialize in producing superior-grade high-carbon Ferro Chrome and Chrome ore in India.

Ranked among the top 7 global producers of Ferro chrome and Ferroalloy, TSML has 8 integrated Ferro Alloy producing plants across 4 states. Headquartered in Bhubaneswar, Odisha, all of our state-of-art production facilities are fully automated from the mines to market for optimum efficiency and safety across operations.

Our strategically located rich reserves of mines are our biggest asset in sourcing the highest quality raw materials for our signature Ferro Alloy and Ferro chrome. We boast of simplifying mining driven by innovation and skilled human assets for delivering our award-winning products to over 19 nations and 60+ happy customers globally.

5. NMDC

NMDC is arguably one of the best mining companies in India and it operates in an Indian public sector mineral producer. It is 69% owned by the government under the council of the Ministry of Steel.

It is India’s largest Iron ore producer and exporter with around a total of 35 MT with a mechanized diamond mine in the country.

The company has 4 operating mines including the Bailadala Iron ore mine. The company holds the Nagarnar steel plant with a production volume of 3 MTA based on HiSmelt technology.

The legacy Iron ore owned by NMDC in Australia holds the majority shares in gold and iron ore projects in Western Australia. It was awarded the corporate social responsibility award. The life insurance corporation is the largest non-promoter shareholder.

6. Vedanta Limited

Vedanta Limited is one of the best private mining companies in India with its main operative branches in Goa, Karnataka, Punjab, and Rajasthan. It is headquartered in Mumbai. It has a mining unit apart from the oil and gas unit. The main products include zinc, crude oil, iron ore, steel, aluminum, and copper.

The company has conducted many operations including Bharat Aluminum Company, Hindustan Zinc, and Sterlite Copper.

The company holds 50% equity in Goa maritime private limited and also acquired control of Electro steels limited. The company has entered into its first unique partnership with the Ministry of Women and child development. Despite many controversies, the company received Indian Affair’s most valuable aluminum company” in 2018.

7. National Aluminium Company

National Aluminum Company (NALCO) is arguably one of the top mining companies in India ‘Navratna CPSE’ was established on 7th Jan of 1981 with its registered office in Bhubaneswar.

It is one of the largest integrated Bauxite-Alumina-Aluminium- Power Complex in the Country. The Company has been operating its captive Panchpatmali Bauxite Mines for the pit head Alumina refinery at Damanjodi, in the District of Koraput in Odisha, and the Aluminium Smelter & Captive Power Plant at Angul.

The Company has a 68.25 lakh TPA Bauxite Mine & 21.00 lakh TPA (normative capacity) Alumina Refinery located at Damanjodi in the Koraput district of Odisha, and a 4.60 lakh TPA Aluminium Smelter & 1200MW Captive Power Plant located at Angul, Odisha.

The Company has regional sales offices in Delhi, Kolkata, Mumbai, Chennai, and 8 operating stockyards at various locations in the Country for domestic consumers.

8. GUJ Mineral

GMDC was formed and made to evolve in the state of Gujarat which is rich in high-grade lignite, the company mines and domestically exports ball clay, fluorspar, bentonite, limestone, silica sand, and manganese. All manganese-bearing grounds in the state have been reserved for GMDC or GUJ mineral development corporations.

The company operated in the country with a total of 1567 employees managing to stay in the position of prominence. The annual turnover crosses 10 billion with good growth in profit returns.

Apart from mining and mineral processing, the company also owns power plants in and around the state. It has many plants including special captive mines to increase the annual production of lignite and manganese.

9. ASI Industries Ltd.

ASI Industries Ltd. is one of the most distinguished mining companies in India and has a long history of supplying its consumers with high-quality Kotah products. It owns the largest stone mining quarry in the world spread across 10 km in area.

The company has crossed milestones in the last decade with its innovative approach and cutting-edge quality equipment used.

In 2014, the company acquired Rawasi Rocks Ltd and ventured into the limestone production arena. The main areas of focus are wind power and natural stones like Dakotah and sandstone. The surveys include a detailed three-dimensional examination of the quarry.

All of their mining and processing include proper crushing of the metals to ensure quality whilst promising quantity of the same.

10. Ashapura Minechem Ltd.

With over 60 years of experience in the industry, Ashapura Minechem Ltd. is an excellent solution maker for multi-mineral problems and one of the top mining companies in India.

They manufacture and distribute soaps, steel, edible oils, medicines, and cement. They have well-conditioned types of equipment with measures to ensure that minimal damage is done to nature.

People and employees here have good connections and determination toward their work and the company has received more than 10 awards for its excellent work in the industry.

11. MOIL Limited

MOIL Limited is a manganese ore company situated in Nagpur, India. Contributing to about 50% of the total manganese production in India, it is the largest producer of manganese. It has been ranked among the Fortune Global 500 top mining companies in India. The company owns around 11 underground mines and three opencast mines with Balaghat being the largest of all.

The total manganese production was around 1.3 MT in 2020. Refined manganese dioxide is also used to feed cattle. The company produces 1000 tons of electrolytic grades for batteries. The total production output is 1,093,630 tons as per the reports of FY 2020.

It is a mini Ratna state-owned firm in and around Maharashtra and Madhya Pradesh. The government of India owns 10% of the equity of the company.

12. Maithan Alloys

Maithan Alloys is among India’s leading exporters and producers of niche value-added manganese. It also has regular consumers from around the world. Many products include Ferromanganese and silicomanganese.

It is a part of the Maithan group currently valued at around 16,000 C INR. The plants and mines are spread around many states including Jharkhand and Uttar Pradesh. The company has adopted sustainability as one of its foundations to ensure profitability and good growth in its formative years.

What makes it another best mining company in India is that it’s an ISO-certified organization with export units located in significant cities.

13. Sandur Manganese

Sandur Manganese is among India’s most diversified and integrated companies with a scientific and innovative approach to mining and mineral processing in the country. The company has received many awards for its work in the industry with recognition for being the best mining company in Karnataka.

The company started its business in the Sandur hills which have a rich history of manganese presence since the 1800s. The first Ferroalloy plant was set up by them in the year 1968 and then opened a foundry for pig iron production. Along with iron ore and manganese, the company also owns power plants for power generation and distribution to state grids.

Their plants are upgraded with state-of-the-art technology to promote Ferroalloy smelting.

14. Indian Metals

Indian Metals was established in the state of Odisha for its rich natural resources that would ensure a good growth rate for its mining projects. It has good consumer satisfaction reports with recognition across the globe as one of the most cost-efficient companies.

The company has helped many underprivileged families in and around their work state.

15. FACOR Alloys

FACOR Alloys started with a Ferro-manganese plant in Andhrapradesh to produce Ferromanganese and then later diversified into many divisions of mining. FACOR can produce 65000 TPA of Ferrochrome and 250,000 TPA of chrome ore in Odisha. Along with mining, they are pioneers in manufacturing and marketing.

Their main products include Ferroalloys, Ferrochrome, and chrome ore substances. Their mining complexes are built with utmost care and a state of the art technology to ensure the safety of the workers. Their revenue from operations saw a great hike from the year 2016 to 2020.

16. INDSIL Hydro

INDSIL Hydro is known for its processing and mining of specialty alloys. Apart from the smelters being updated frequently, the captive power generation has put them in the global race for being competitive. Low-power and ultra-low power silicon-carbon ensure better productivity in the manufacturing of stainless steel.

They have many power plants around the country. Some of the most famous among them include ALTAMMAN and INDSIL Hydropower plants. Other products are Ferrosilicon and Ferromanganese. The Ferrosilicon produced is also used for converting metal oxides thereby making the process cost-efficient.

17. Odisha Minerals

Odisha Minerals is a unit started and maintained by the government of Odisha to celebrate the rich mineral source in the state. Along with iron ore, manganese, Bauxite, and limestone, many decorative metals, granite, and diamonds are also found in the state. It is maintained by the steel and minerals department which also emphasizes the end-use of minerals.

Manganese, Chromite, Dolomite, and Iron are among the most produced chemicals. It is a subsidiary of Rashtriya Ispat Nigam Ltd. The company operates six mines in the country for iron ore and manganese.

Headquartered in Kolkata, the Company has state-of-the-art technology to ensure proper safety and protection for the employees making it one of the top mining companies in India.

18. Deccan Gold Mines Ltd.

According to the Bombay stock exchange report, Deccan Gold Mines Ltd. is the first and the only company in the country to redefine the prospects of gold mining. The company’s main objective is to improve the presence of gold in commercial gold protection.

They have good shareholder support with well-planned management to work towards increasing the mining units. Their unique and interesting approach to operations includes remote sensing, proper geographical marking, and multi-element chemical analysis with many honorable projects like the Dharwar Shimoga belt and Hatti Maski belt.

It is among the top 10 gold mines in the world along with the Deep South gold mines of South Africa.

19. Nagpur Power

Nagpur Power mainly operates a Metal recovery plant and produces low Ferromanganese through the slag recovery process. The Motwane group is its subsidiary and has good visions for manufacturing and distributing mine products.

The products include Ferromanganese, Ferrochrome, and sandstones. Their mining areas are well equipped with cutting-edge quality equipment. Even though the revenue growth showed a very slow yet gradual increase, their products are rated high among the others.

Final Thoughts on Best Mining Companies in India

The mining companies in India also have a very important role in developing the various industries of India including jewelry, steel, and more.

The above mining companies in India are ranked based on their annual income, market capitalization, net revenue, total assets, and more financial information.

Many companies are working around the country by manufacturing and distributing minerals and metals. The ranking of Mining Companies in India is based on their experience and product quality.