India’s government-run miner MOIL Limited marked its maiden entry into manganese exports, completing a shipment of 54,600 mt to a buyer in Indonesia, company sources said on Thursday, September 18.
The first export comes close on the heels of MOIL Limited being designated as a ‘State Trading Enterprise” (STE), and as per the national trade policy, all exports of manganese from the country will have to be mandatorily routed through the company.
Export of low-grade manganese ore (Mn 25%) from the country assumes major significance as India has surplus manganese ore of low-grade fines, in excess of domestic demand, and hence export of low-grade ore enhances India’s global footprint and boosts foreign earnings, the sources said.
As an STE, MOIL will be the authorized exporter of manganese ore from other private miners in the country. It has developed a mechanism under which export of manganese ore from India will be routed through MOIL Limited and the latter will provide the materials to foreign buyers under a back-to-back arrangement with Indian suppliers, the sources said.