Indian government-run miner MOIL Limited is looking to undertake manganese exploration and a mining project in Gabon, company sources said on Wednesday, January 8.
The sources said that due diligence on the project has been completed and a memorandum of understanding (MoU) between the respective governments of Gabon and India will be signed shortly for what will be MOIL Limited’s first overseas venture.
While the investment specifics for overseas operations are yet to be finalized, MOIL had earlier indicated its intention to expand into regions such as Africa (Gabon and South Africa), Australia and Latin America (Brazil) for manganese mining.
MOIL in 2018 had sent a team to Gabon to explore collaboration opportunities with local mining companies.
Gabon holds about 25 percent of the world’s manganese resources.
