The has earned 1,000 crore from the sale of barytes mineral during the current fiscal. This is the highest ever revenue to be earned in a span of just 10 months of the fiscal. The government had netted around 900 crore during 2021-22 fiscal from sale of barytes.
AP is the only state with vast reserves of barytes mineral in the country, and meets nearly 25% of global demand from its mines in Mangampet area of Annamayya district. We are happy to have achieved tremendous results during the current fiscal.
APMDC, which was set up in 1961, launched exploration of barytes mineral from quarries in Mangampet area in 1974. It continued its exploration operations manually due to the unavailability of machinery for several decades and later adopted advanced technology and modern machinery which helped it dig out more reserves. Mangampet basin is believed to have about 74 million tonnes of barytes mineral, out of whichAPMDChas so far excavated about 40 million tonnes.