Did MOIL Achieve a 17% Increase in Manganese Ore Production in August?
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Synopsis
MOIL has reached new heights in manganese ore production, achieving a record 1.45 lakh tonnes in August, a staggering 17% increase year-over-year. This impressive performance reflects the company's commitment to growth and innovation in the mining sector.
Key Takeaways
- MOIL recorded a remarkable 1.45 lakh tonnes of production in August.
- The company achieved a 17% increase compared to last year.
- Sales figures also showed strong growth with 1.13 lakh tonnes sold.
- MOIL's exploratory drilling reached a record 50,621 metres this year.
- The Board approved significant investments in shaft sinking projects.
New Delhi, Sep 3 (NationPress) India’s largest manganese ore producer MOIL has maintained its strong growth trajectory by achieving a record production of 1.45 lakh tonnes in August, marking a significant 17% increase compared to the same month last year, as per a statement from the Ministry of Steel released on Wednesday.
On the sales side, the company performed well with 1.13 lakh tonnes sold in August, reflecting an impressive 25.6% year-on-year growth in comparison to the previous year.
Additionally, between April and August 2025, MOIL recorded its best performance ever, with 7.92 lakh tonnes of production, which signifies a 9.3% year-on-year increase.
This government-owned enterprise, which provides manganese ore essential for steel production, also achieved its highest exploratory core drilling at 50,621 metres during the current financial year from April to August, marking an 8.6% increase compared to the same timeframe last year.
Ajit Kumar Saxena, CMD, expressed his congratulations to the MOIL team for this exceptional performance and commended their unwavering efforts to boost production and sales, even under adverse weather conditions.
Following the announcement of these production figures, MOIL's share price rose by 6.45%, reaching Rs 367.05.
MOIL operates as a Schedule 'A' Miniratna Category-I public sector undertaking focused on mining and supplying manganese. The company has underground and opencast mines situated in Nagpur and Bhandara districts of Maharashtra and Balaghat district of Madhya Pradesh.
The MOIL Board has also sanctioned an interim dividend of Rs. 4.02 per share for the financial year 2024-25, reflecting a 15% increase over the previous year's interim dividend of Rs. 3.50 per share.
Moreover, the Board has approved five projects for shaft sinking, including two ventilation shafts for its Dongri Buzurg, Chikla, and Kandri mines, amounting to approximately Rs. 886 crore. These shafts are expected to support and enhance the company’s existing production levels in the forthcoming years.
Point of View
MOIL's consistent growth reflects not only its operational excellence but also aligns with India's broader economic goals. As the country continues to enhance its steel production capabilities, MOIL's contributions are critical in maintaining a robust supply chain in the mining sector.
NationPress
03/09/2025
Frequently Asked Questions
What is MOIL's recent production achievement?
MOIL achieved a record production of 1.45 lakh tonnes of manganese ore in August, marking a 17% increase from the previous year.
How much manganese ore did MOIL sell in August?
MOIL sold 1.13 lakh tonnes of manganese ore in August, reflecting a year-on-year growth of 25.6%.
What is the significance of MOIL's production figures?
These figures indicate MOIL's strong performance and capacity to meet growing demand for manganese ore, crucial for steel production.
What is the interim dividend announced by MOIL?
MOIL announced an interim dividend of Rs. 4.02 per share for the financial year 2024-25, a 15% increase from last year.
Where are MOIL's mining operations located?
MOIL operates its mines in the Nagpur and Bhandara districts of Maharashtra and the Balaghat district of Madhya Pradesh.
