New Delhi: State-owned miner MOIL on Monday said it registered a 6% year-on-year growth in manganese ore production to 13.02 lakh tonne (LT) in the financial year 2022-23. This was the company’s second highest production figure since its inception.
The Ministry of Steel said that MOIL has made record capital expenditure worth ₹245 crore in financial year 2023, a growth of 14% from financial year 2022.
MOIL also carried out best ever exploratory core drilling of 41,762 metres during the fiscal year, which is 2.7 times of the average exploration achieved in the last five years.
The company said this exploration will not only form the basis of heightened production from its existing mines, but will also be the foundation of opening new manganese mines in India.
The state-owned firm said that the sales turnover of Electrolytic Manganese Dioxide (EMD) reached a new high in the just concluded fiscal, which is more than double than the previous year.
MOIL is the largest producer of manganese ore in India and it contributes 45% of the total manganese production in the country.
It operates eleven mines in the state of Maharashtra and Madhya Pradesh. The company has ambitious vision of more than doubling its production to 3.00 million tonne by 2030. MOIL is also exploring business opportunities in Gujarat, Rajasthan, Chhattisgarh and Odisha.
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