MOIL, country’s top manganese ore producer, has signed a Memorandum of Understanding (MoU) jointly with Government of Madhya Pradesh, Mineral Resources Department and Madhya Pradesh State Mining Corporation (MPSMCL), a PSU under Government of Madhya Pradesh, to conduct exploration and prospecting works in Madhya Pradesh.
The MoU also envisages formation of a Joint Venture Company (JVC) between MOIL (51%) and MPSMCL (49%), in case of availability of ore is proved, in any area. The MoU is aimed at increasing the mineral resources in 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).
