MOIL Manganese Ore Production Up 7% in April-August | Business News

New Delhi, Sep 3 (PTI) State-owned MOIL on Tuesday said its manganese ore production rose 7 per cent to 7.24 lakh tonnes during April-August period of this fiscal.

The company in an exchange filing said that it "has achieved production of 7.24 lakh tonnes during first five months of the current financial year (April to August 2024), registering a growth of 7 per cent over CPLY (corresponding period last year)".

The company has achieved sales of 5.92 lakh tonnes during April-August period of the current fiscal, which is almost at the same level of last year.

This, the company said, is despite challenging market conditions and high international price volatility over the past few months.

The revenue from operations of the PSU rose by about 11 per cent during April- August compared to the corresponding period of last financial year.

Giving utmost thrust to exploration, MOIL has carried out exploratory core drilling of 46,585 metres up to August, which is 1.6 times more than the previous year, it said.

MOIL is under the administrative control of the Ministry of Steel. The PSU produces and sells different grades of manganese ore.

At present, MOIL operates its underground and opencast mines located in Nagpur and Bhandara districts of Maharashtra and Balaghat district of Madhya Pradesh.