MOIL Records Record Manganese Ore Production in FY24

New Delhi, Apr 2 (PTI) State-owned MOIL on Tuesday posted a 35 per cent year-on-year jump in manganese ore production to 17.56 lakh tonne during 2023-24.

It had produced 13.02 lakh tonne (LT) manganese ore during 2022-23, the company said in a statement.

"MOIL has recorded best ever production of any financial year since inception at 17.56 lakh tonne, registering a significant growth of 35 per cent year-on-year (y-o-y). This is 29 per cent higher than the previous best ever production of 13.64 LT in FY 2007-08," the statement said.

The company has also achieved its best-ever sales at 15.36 LT in FY24, up 30 per cent over 11.78 LT in 2022-23, and 10 per cent higher than the previous best-ever sales of 13.92 LT witnessed in 2007-08.

The company produced 1,413 tonne of Electrolytic Manganese Dioxide (EMD), up 28 per cent over 11,000 tonne in preceding fiscal.

EMD is a 100 per cent import substitution product, used mostly for pharmaceuticals and manufacturing of batteries.

MOIL, under the Ministry of Steel, fulfils about 46 per cent of the total requirement of dioxide ore in the country. At present, the average annual production is around 1.3 million tonne.