VIJAYAWADA: Andhra Pradesh’s Mines Department has recorded a revenue of Rs 3,416 crore in 2025-26, exceeding its target by 108 per cent and marking a 32 per cent growth over the previous year - the highest among mineral-rich states such as Odisha, Karnataka, Chhattisgarh, Rajasthan, and Madhya Pradesh. Building on this performance, the State has set a revenue target of Rs 4,650 crore for 2026-27, representing a 36 per cent increase.
Chief Minister N Chandrababu Naidu, reviewing the department’s performance on Tuesday, directed officials to prepare a comprehensive action plan to fully utilise the State’s vast iron ore reserves, which stand at nearly 1,938 million tonnes.
He said effective utilisation would not only boost revenue but also generate large-scale employment, projecting investments worth Rs 1.90 lakh crore and the creation of 1.52 lakh jobs.
The Chief Minister noted that ArcelorMittal Nippon India is establishing a steel plant with a capacity of 17.8 million tonnes, while JSW is setting up a major unit in Rayalaseema.
By 2035, these projects are expected to exceed 20 million tonnes of annual capacity.
The Chief Minister instructed officials to allocate the remaining iron ore blocks to companies and set production targets of 30 million tonnes by 2030 and 113 million tonnes by 2035.
Naidu also directed the officials to formulate a special policy to process low-grade magnetite ore, faster exploration, and quicker approvals for mining leases.