MOIL targets manganese ore output of 1.475 million mt in FY 2019-20

Monday, 27 May 2019 11:18:13 (GMT+3)   |   Kolkata
       

India’s MOIL Limited (formerly Manganese Ore India Limited) has signed a memorandum of understanding (MoU) with its administering Ministry of Steel committing to produce 1.475 million mt of manganese ore during the fiscal year 2019-20, a government official said on Monday, May 27.

MOIL will incur a capital expenditure of around $30 million during the fiscal year to ramp up manganese ore production, the official said.

During the fiscal year 2018-18, MOIL had produced 1.3 million mt of manganese ore. The company has an estimated 34 percent of total Indian manganese reserves under its control and accounts for about 50 percent of domestic production of the ore.


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