MOIL has revised prices of different grades of Manganese Ore for Q2 2017-18 (Jul-Sep, 2017) effective from July 1, 2017. The prices of various grades of Manganese Ore have been revised, the average increase being 4.6% on a weighted average basis.
The company has reduced the free credit facility from 90 days to 60 days in case of payment made through LC/Bank Guarantee and for advance payment/credit balance, cash discount is reduced from 1.5% to 1% for the sale of all grade of Manganese ore except the grade of ore sold through e-sales. The prices of Electrolytic Manganese Dioxide (EMD) have been increased by 5% on the prices prevailing during June 2017.
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).
