Winds of change continued to sweep across the Indian minerals sector during 2004-2005, thanks to the initiatives set in motion vis-a-vis liberalization, structural reforms and deregulation since 1991. The percentage share of mining and quarrying in the national GDP registered a rise to 2.8 percent, foreign direct investment (FDI) of US 830 million dollars was cleared by the Government, while 193 reconnaissance permits were granted in 11 states. With significant expansions planned in steel and aluminium with mega investments proposed by POSCO of Korea in Orissa and Mittals and Tatas and other players in green field steel projects in Jharkhand , iron ore and bauxite naturally stole the show. The Government started mulling over a new policy for iron ore exports. Coal production registered a new high of 382 million tonnes; the overall productivity in coal mines rose to 2.99 tonnes/manshift with increasing share of surface mining which constituted 83 percent of the total production. Lignite production at 30.337 million tonnes accounted for 7.35 percent of solid fossil fuel production.
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