MoneyWorks4Me

Moil gets approval for mining lease for manganese ore

02 Dec 2014 Evaluate

Government of India, Ministry of Mines has granted approval of Mining lease to MOIL for manganese ore over an area of 48.974 Ha land in Village Lugma, Tehsil Baihar, Balaghat in Madhya Pradesh. The company has received a communication in this regard from Mineral Resource Department of Government of Madhya Pradesh. The said area falls under Ukwa Mine of MOIL. Now, the Company will take necessary steps, as may be required, for execution of the mining lease with the Government of Madhya Pradesh.

MOIL is the largest iron ore company in India and fifth largest in world. It currently operates seven underground mines (Kandri, Munsar, Beldongri, Gumgaon, Chikla, Balaghat and Ukwa mines) and three opencast mines (Dongri Buzurg, Sitapatore/Sukli, and Tirodi). The company is actively involved in exploration and development activities with a view to increase its proven manganese ore reserves.

Peers
Company Name CMP
Coal India 422.25
NMDC 80.50
Ashapura Minechem 517.40
Sandur Manganese 181.45
GMDC 543.25
View more..