MOIL reports 7% growth in production; sales jump 32% in Apr-May

New Delhi: State-owned MOIL Limited on Monday posted a 7 percent rise in manganese ore production to 3.05 lakh tonne (LT) during April-May 2024.

It had produced 2.84 LT manganese ore during the year-ago period, MOIL said in a statement.

The cumulative sale was 3.3 LT, up 32 percent over 2.5 LT in the year-ago period.

During April-May 2024, the company conducted an exploratory core drilling of 18,609 metres, 26 percent higher than 14,770 metres a year earlier.

MOIL, under the Ministry of Steel, meets about 46 percent of the dioxide ore requirement in the country. At present, the average annual production of manganese ore is around 1.3 million tonne.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)