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MOIL enters into draft joint venture agreement with MPSMCL

21 Oct 2024 Evaluate

MOIL has entered into a draft joint venture agreement with Madhya Pradesh State Mining Corporation (MPSMCL) in Bhopal. This collaboration aims to advance manganese ore mining and undertake value-addition projects in the state of Madhya Pradesh.

As per the agreement, a JV Company will be formed between MOIL and MPSMCL with a shareholding of 51% of MOIL and 49% of MPSMCL. This strategic partnership between MOIL and MPSMCL is expected to harness the rich manganese ore reserves in Madhya Pradesh, driving economic growth and creating numerous employment opportunities in the region, aligning with the vision of Atma Nirbhar Bharat.

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

322.25 -3.85 (-1.18%)
23-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Coal India 450.60
NMDC 87.33
GMDC 682.70
Sandur Manganese 209.35
MOIL 322.25
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