MOIL has received approval for incorporation of a wholly owned subsidiary as an IFSC company in GIFT City (Gujarat International Finance Tec-City). The objective of incorporation is to explore and develop overseas opportunities in the field of minerals asset acquisition, enable an efficient management of overseas investments, and provide structural flexibility for future acquisitions. The Board of Directors of the Company in their meeting held on November 2, 2026, has approved 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).