India’s MOIL Limited has approved the formation of a joint venture with Gujarat Mineral Development Corporation (GMDC), an arm of the Gujarat state government, to undertake a new manganese mining project, according to a regulatory filing of MOIL Limited on Thursday, December 14.
MOIL will have a majority 51 percent stake in the JV company, while the remaining 49 percent will be held by GMDC, the filing stated.
The JV will undertake exploration and development of manganese reserves in the western Indian state of Gujarat, it said.