India’s MOIL plans higher manganese ore output in current fiscal year

Monday, 30 April 2018 17:14:14 (GMT+3)   |   Kolkata

Indian state-owned manganese-ore mining company MOIL Limited (formerly Manganese Ore India Limited), which accounts for 50 percent of domestic supplies of manganese ore in India, has set a target to mine 1.32 million mt of manganese ore during the current fiscal year 2018-19, according to a document signed between the miner and India's Ministry of Mines.

MOIL has also set a capital expenditure of an estimated $30 million to achieve the production target for the year, according to the document.

Apart from funding mine operations, the capital expenditure will also be utilized for setting up two ferroalloy plants scheduled to go into production in 2022.

During the fiscal year 2017-18, the government-owned miner produced an estimated 1.2 million mt of ore.

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