Indian state-run manganese miner, MOIL Limited firmed up investments to tune of $57 million to set up ferroalloy plants at its mines, according to a company statement on Monday, September 14.
According to the statement, an investment to tune of $39 million will be made to construct a 50,000 mt per year ferroalloys plant at its flagship manganese ore mine at Balaghat in Madhya Pradesh while another estimated $21 million will be riding on construction of a 25,000 mt per year ferroalloy plant at its Gumgaon mine in Maharashtra state.
MOIL, under administrative charge of Ministry of Mines, operates 11 manganese mines across the country and accounts for about 50 percent domestic production of manganese.
