The Indian government has approved a proposal for a joint venture between Indian miner MOIL Limited and Madhya Pradesh State Mining Corporation Limited (MPSMCL) to undertake manganese mining projects in the state of Madhya Pradesh, an Indian government official said on Tuesday, February 3.
The joint venture between MOIL and the mining arm of the state government of Madhya Pradesh plans to undertake mining projects for the extraction of manganese ore in the state and construct facilities for value addition, the official said.
According to the joint venture agreement submitted to the ministry of steel, MOIL Limited would hold 51 percent equity in the venture, while the balance would be held by MPSMCL.
MOIL Limited had entered into a draft joint venture agreement with MPSMCL in October 2024.
