MOIL has signed a Memorandum of Understanding (MoU) for FY 2018-19 with the Ministry of Steel. This is the 23rd consecutive year that MOIL has signed MoU with the Government of India. The MoU envisages an ambitious production target of 13.25 lakh tonnes (LT) of manganese ore and sets capex target of around Rs 200 crore, besides turnover and related financials, project implementation, R&D, customer satisfaction, human resource management, etc.
During 2017-18, the company has achieved significant growth of 19.53% in production of ore and has also registered highest production and sales of lumps and chips (excluding fines). The company is the largest producer of manganese ore in the country and produces around 50% of the country’s production of manganese ore.
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).
