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MOIL gets nod for Sinking of Vertical Shaft project at Chikla Mine

12 Aug 2013 Evaluate

Manganese Ore India (MOIL) has received an approval for a Project of Sinking of Vertical Shaft having 160 meters depth and 4.50 meters Diameter at a cost of Rs 48.70 crore at company’s Chikla Mine. The production is expected to increase gradually by 135,000 tonnes per annum (TPA) from the year 2017-18, through this project. The board of director at its meeting held on August 07, 2013 has approved for the same.

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).

Peers
Company Name CMP
Coal India 420.25
NMDC 80.88
Ashapura Minechem 517.00
Sandur Manganese 181.55
GMDC 550.05
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