New Delhi: State-owned manganese ore producer MOIL Limited has announced the incorporation of a joint venture company, MOIL MPSMCL Mining Limited, in partnership with Madhya Pradesh State Mining Corporation Limited (MPSMCL), marking a significant step towards expanding manganese ore mining activities in India.

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In a regulatory filing to the stock exchanges, MOIL informed that the Ministry of Corporate Affairs (MCA) has intimated the incorporation of the joint venture company, MOIL MPSMCL Mining Limited, which has been allotted Corporate Identification Number (CIN) U07293MP2026GOI084604. The company was incorporated on June 4, in India.

According to the filing, the newly incorporated entity will operate in the mining of manganese ore, with its primary business focused on manganese ore exploration and mining activities.

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The joint venture has already received the necessary approvals from the Department of Investment and Public Asset Management (DIPAM) and the Ministry of Steel.

MOIL MPSMCL Mining Limited has been incorporated as a subsidiary of MOIL. The company has been formed through a cash subscription of 1,02,000 equity shares with a face value of Rs 10 each. Under the shareholding structure, MOIL will hold a 51 percent stake, while Madhya Pradesh State Mining Corporation Limited will hold the remaining 49 percent equity.

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