New Delhi [India], May 3 : Miniratna firm MOIL has its best April production till date as it posted a 26 per cent growth in production during April 2023 to 1.31 lakh tonne of manganese ore, against its production in the corresponding period the previous year.
Breaking a multi-year record, sales at 97,838 tonne for the month have also been the best for any April month and a 72 per cent higher than April 2022.
Giving utmost thrust to exploration, MOIL achieved core drilling of 7,530 m in April 2023, which is 3.6 times that of April 2022, according to a statement released by the ministry of steel on Tuesday evening. The company has made an ambitious plan of carrying out exploration in brownfield and greenfield areas during FY24.
A brownfield site is defined as any land that has previously been built on. A greenfield site sits at the opposite end of this spectrum, referring to land that has yet to be developed.
The production of electrolytic manganese dioxide (EMD) has also been the best for any April month, higher by 6 per cent than April, 2022. EMD is a 100 per cent import substitution product, used mostly for pharmaceuticals and the manufacturing of batteries.
Ajit Kumar Saxena, Chairman and Managing Director, congratulated MOIL collective on these achievements and reposed confidence of continuing the growth trajectory in the coming times.
MOIL is a miniratna central public sector enterprise (CPSE) under the administrative control of the ministry of Steel. The firm is the largest producer of manganese ore in the country, contributing 45 per cent of the domestic production. It operates eleven mines in the state of Maharashtra and Madhya Pradesh. The company has an ambitious plan of more than doubling its production to 3 million tonne by 2030. MOIL is also exploring business opportunities in Gujarat, Rajasthan, Chhattisgarh and Odisha, besides other areas in Madhya Pradesh.
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