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MOIL reports 41% growth in sales of manganese ore in May 2024

03 Jun 2024 Evaluate

MOIL has scaled new peak of 2.15 lakh tonnes monthly sales of manganese ore in May, 2024, surpassing the previous record of 1.83 lakh tonnes in December, 2019 and registering an impressive growth of 41% over May 2023.

Sales during April-May 2024, has been higher by 31.5% as compared to corresponding period last year (CPLY). Helped by market conditions, the company has increased the prices of various grades by about 65% in the current financial year.

On the production front, 3.05 lakh tonnes of manganese ore production was achieved in April-May, 2024, registering a growth of 7% over CPLY. MOIL has also continued its focus on exploration activities and carried out exploratory core drilling of 18,609 meters in April-May 2024, which is higher by 26% y-o-y. 

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).

MOIL Share Price

327.60 1.05 (0.32%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Coal India 438.70
NMDC 89.78
GMDC 733.40
Sandur Manganese 218.35
MOIL 327.60
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