Manganese Ore India (MIOL) has decided to invest Rs 1,200 crore in a phased manner, in order to boost production to over 2 million tonne by 2020. To achieve this target, the company is planning to expand and diversify the business and taking up several mining projects for execution.
The state-run firm supplies 42% of the total requirement of ore in the country and 75% of its ore is high grade Ore. The miniratna company is exploring possibilities of joint venture production of ferro manganese and silica manganese with Steel Authority of India and Rashtriya Ispat Nigam for setting up ferro alloy plants at Bhilai (CG) and Vizag (AP) respectively.
