Maintaining the production tempo, MOIL has achieved best ever quarterly manganese ore production of 4.36 lakh MT in the first quarter of FY’24, registering a substantial growth of 35% over corresponding period last year (CPLY). Production of 1.5 lakh MT in June month is also best ever production of any June month since inception.
At sales front, MOIL has recorded best ever first quarter sales performance and registered sales of 3.96 lakh MT in the first quarter of the current financial year, with a growth of 39% percent over CPLY.
Continuing its thrust on exploration activities, MOIL has carried out best ever quarterly exploratory core drilling of 20,086 metres in the first quarter of FY’24, which is 3.8 times during CPLY. This will not only form the basis of enhanced production from its existing mines but will also be the foundation of opening new Manganese mines in the country.
MOIL has also recorded highest production of Electrolytic Manganese Dioxide (EMD) during the quarter. EMD is a 100% import substitution product, used mostly for pharmaceuticals and manufacturing of batteries.
Shri Ajit Kumar Saxena, CMD MOIL, congratulated MOIL collective on this thumping performance and the spirit demonstrated to perform as per the clarion call of ‘making each month March’. He further reposed confidence that the company will continue to work towards the stretch goals fixed for the year.
About MOIL:
MOIL Limited is a Schedule-A, Miniratna Category-I CPSE under the administrative control of Ministry of Steel, Government of India. MOIL is the largest producer of manganese ore in the country, contributing ~45% of the domestic production. It operates eleven mines in the state of Maharashtra and Madhya Pradesh. The company has ambitious vision of more than doubling its production to 3.50 million tonnes by 2030. MOIL is also exploring business opportunities in the State of Gujarat, Rajasthan, Chhatisgarh and Odisha, besides other areas in the State of Madhya Pradesh.
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