Latest news with #MOIL
Time of India
03-07-2025
- Business
- Time of India
MOIL reports record 5 lakh tonnes manganese ore production in Q1
State-owned MOIL has reported around a 7 per cent year-on-year rise in its manganese ore output to 5.02 lakh tonnes in the April-June quarter, an official statement said Thursday. In June, MOIL recorded its highest-ever production of 1.68 lakh tonnes of manganese ore, marking a 2 per cent increase over the corresponding period last year, the Ministry of Steel said. "MOIL scales new heights in April-June, 2025. Registers record quarterly production since inception," it said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas Prices In Dubai Might Be More Affordable Than You Think Villas In Dubai | Search Ads Get Rates Undo Its CMD Ajit Kumar Saxena said the company's resounding performance in April-June 2025 reflects its strong fundamentals and continued growth outlook. MOIL, under the Ministry of Steel, is India's largest manganese ore producer. Live Events The Nagpur-based company operates 10 underground and opencast mines in Maharashtra and Madhya Pradesh. PTI
Hans India
03-07-2025
- Business
- Hans India
MOIL's manganese ore production rises to record 1.68 lakh tonnes in June
New Delhi: India's largest manganese ore producer MOIL continued its robust growth trajectory with the highest-ever June production of 1.68 lakh tonnes of manganese ore, marking a 2 per cent increase over the corresponding period last year, according to an official statement released on Thursday. During the April-June quarter of 2025-26, MOIL has registered its best ever quarterly production of 5.02 lakh tonnes, higher by 6.8 per cent over the same period of the previous year. The government-owned company, which supplies manganese ore as an input for making steel, also achieved its best ever Q1 exploratory core drilling of 34,900 metres, which represents a robust 16.2 per cent increase over the same quarter last year. Expressing satisfaction over the results, MOIL chairman and managing director Ajit Kumar Saxena said the company's resounding performance in April-June reflects its strong fundamentals and continued growth outlook. MOIL reported a 27 per cent increase in consolidated net profit to Rs 115.7 crore for the January-March quarter of financial year 2024-25, compared to Rs 91.1 crore in the corresponding of the previous financial year. Revenue from operations during the quarter came in at Rs 433.4 crore, registering a 4.2 per cent increase from Rs 415.9 crore a year ago. Operational performance remained stable, with EBITDA rising 8.7 per cent on-year to Rs 139.4 crore. EBITDA margin expanded to 32.2 per cent from 30.9 per cent in the year-ago period, reflecting improved cost control and firm pricing. The MOIL board has also approved the payment of an interim dividend of Rs. 4.02 per share for the financial year 2024-25 during the declaration of the Q3 results. This represents a 15 per cent increase over last year's interim dividend of Rs. 3.50 per share. Besides, the Board approved five shafts sinking projects including two ventilation shafts for its Dongri Buzurg Mine, Chikla Mine and Kandri Mine worth Rs 886 crore (approximate). These shafts will help the company to sustain as well as increase its existing production level in the coming years.
Time of India
23-06-2025
- Business
- Time of India
Indian steel PSUs expanding global presence to achieve higher production by 2030
In a bid to explore reserves of key minerals needed for steel making abroad, and eyeing new markets for the commodity as well, three PSUs — Steel Authority of India Limited (SAIL), National Mineral Development Corporation (NMDC), and Metallurgical and Engineering Consultants (MECON) — will be opening their offices in Dubai by the end of June. Eventually, Nagpur-headquartered Manganese Ore India Limited ( MOIL ) will also join with a setup in the country, Union steel secretary Sandeep Poundrik told TOI on Sunday. Even though there is enough domestic output of iron ore, the country needs to increase the supplies of coking coal, manganese, limestone, and even some of the critical minerals. The idea is to explore the reserves in other countries to meet the shortfall. Poundrik was in the city to attend the 63rd foundation day of MOIL on Sunday. Manganese is needed for strengthening steel in its manufacturing process. Soon, MOIL chairman-cum-managing director (CMD) AJ SAxena will be visiting Gabon to explore the opportunities for manganese mining in the country. The govt is also eyeing critical minerals in Brazil and Argentina, said the officer. Poundrik said Dubai has been chosen for opening the PSUs' office because a large part of the African market is controlled from there. Among Gulf countries, Oman has a sizeable quantity of limestone reserves, which again is a key input for steel making. With the availability of gas in the Middle-Eastern countries, the govt is also eyeing scope for DRI grade of steel from India, said the officer. Poundrik said the country is currently making 151 million tonnes of steel, with around 9.5 million tonnes being imported. The country is a net importer at present because of China dumping the commodity. A safeguard duty has been imposed, and it is expected to yield results. However, by 2030, India's production is expected to reach 300 million tonnes, with the capacity reaching around 400 million tonnes, he said. On the recent move of the European Union (EU) tightening restrictions on steel imports, Poundrik said India would take time to bring down the carbon imprint. EU nations have to follow the norms under the carbon border adjustment mechanism on this. With predominantly blast furnace technology in India, it would still take time to meet the EU norms. However, India is not much dependent on the EU, and there is a vast global market for its steel, he said. MOIL achieves highest quarterly production MOIL CMD Ajit Kumar Saxena said this quarter the company achieved the highest ever quarterly production at 5 lakh million tonnes in this fiscal. Never before could this level be reached. He was speaking at the company's foundation day function on Sunday. The company also undertook exploration of almost 107km in last fiscal. MOIL's production in the last fiscal stands at over 18 million tonnes, and it is confident of meeting the target of 35 million tonnes by 2030, he said. Later, Poundrik said he was confident that MOIL's contribution to the steel sector would go beyond 50%. He said that MOIL's production is expected to even cross 35 million tonnes, touching over 40 million tonnes by 2030.
Time of India
23-06-2025
- Business
- Time of India
Indian steel PSUs expanding global presence to achieve higher production by 2030
Nagpur: In a bid to explore reserves of key minerals needed for steel making abroad, and eyeing new markets for the commodity as well, three PSUs — Steel Authority of India Limited ( ), National Mineral Development Corporation (NMDC), and Metallurgical and Engineering Consultants (MECON) — will be opening their offices in Dubai by the end of June. Tired of too many ads? go ad free now Eventually, Nagpur-headquartered Manganese Ore India Limited (MOIL) will also join with a setup in the country, Union steel secretary Sandeep Poundrik told TOI on Sunday. Even though there is enough domestic output of iron ore, the country needs to increase the supplies of coking coal, manganese, limestone, and even some of the critical minerals. The idea is to explore the reserves in other countries to meet the shortfall. Poundrik was in the city to attend the 63rd foundation day of MOIL on Sunday. Manganese is needed for strengthening steel in its manufacturing process. Soon, MOIL chairman-cum-managing director (CMD) AJ SAxena will be visiting Gabon to explore the opportunities for manganese mining in the country. The govt is also eyeing critical minerals in Brazil and Argentina, said the officer. Poundrik said Dubai has been chosen for opening the PSUs' office because a large part of the African market is controlled from there. Among Gulf countries, Oman has a sizeable quantity of limestone reserves, which again is a key input for steel making. With the availability of gas in the Middle-Eastern countries, the govt is also eyeing scope for DRI grade of steel from India, said the officer. Poundrik said the country is currently making 151 million tonnes of steel, with around 9.5 million tonnes being imported. The country is a net importer at present because of China dumping the commodity. Tired of too many ads? go ad free now A safeguard duty has been imposed, and it is expected to yield results. However, by 2030, India's production is expected to reach 300 million tonnes, with the capacity reaching around 400 million tonnes, he said. On the recent move of the European Union (EU) tightening restrictions on steel imports, Poundrik said India would take time to bring down the carbon imprint. EU nations have to follow the norms under the carbon border adjustment mechanism on this. With predominantly blast furnace technology in India, it would still take time to meet the EU norms. However, India is not much dependent on the EU, and there is a vast global market for its steel, he said. MOIL achieves highest quarterly production MOIL CMD Ajit Kumar Saxena said this quarter the company achieved the highest ever quarterly production at 5 lakh million tonnes in this fiscal. Never before could this level be reached. He was speaking at the company's foundation day function on Sunday. The company also undertook exploration of almost 107km in last fiscal. MOIL's production in the last fiscal stands at over 18 million tonnes, and it is confident of meeting the target of 35 million tonnes by 2030, he said. Later, Poundrik said he was confident that MOIL's contribution to the steel sector would go beyond 50%. He said that MOIL's production is expected to even cross 35 million tonnes, touching over 40 million tonnes by 2030.
Zawya
14-05-2025
- Business
- Zawya
African Mining Week 2025 to spotlight the impact of Gabon's mining code
CAPE TOWN, South Africa,/ -- Gabon strives to expand the mining industry's GDP contribution to over 30% by the mid-2030s, using policies such as the Mining Code to attract investment and fuel development. By offering competitive incentives such as tax holidays ranging from three to eight years and a modest 3-5% royalty on base metals, the Mining Code offers improved terms for investors, thereby providing positive implications for the country's mineral sector. African Mining Week - Africa's premier gathering for African mining stakeholders, scheduled for October 1–3, 2025 in Cape Town – will provide an overview of Gabon's Mining Code. A dedicated panel discussion, titled Navigating Gabon's Mining Code: A Guide for Investors, will explore how the country is using the Mining Code to catalyze mining development and attract capital. Already the world's third-largest producer of manganese ( Gabon is leveraging the code to strengthen the sector though international partnerships and new investments. French mining major Eramet, operator of the high-grade Moanda Minesin Gabon, signed a manganese supply agreement with Australia's Firebird Metals ( to support electric vehicle (EV) battery production in China. Similarly, India's state-run MOIL ( is in talks to develop manganese assets in Gabon, highlighting the country's growing role in the global manganese, EV and battery storage market. Beyond manganese, Gabon is diversifying its mineral production base. Canadian company Millennial Potash Corp ( is advancing the Banio Potash Project, where high-grade potash intersections were confirmed in May 2025. Once operational, the project will be Gabon's first commercial potash facility, supplying a global market driven by demand for fertilizers and pharmaceutical applications. Iron ore is another growth frontier where the country is using the Mining Code to secure investment. In partnership with Australia's Genmin and China's Sinohydro ( the country is progressing the Baniaka Iron Ore Project, which targets five million tons of annual output initially, ramping up to 10 million tons in the future. Australia's Fortescue is also expanding its Belinga iron ore project while South Africa's Menar ( signed agreements to invest in the sector, illustrating growing investor confidence fostered by Gabon's Mining Code. Amid this growth, African Mining Week will connect investors, government officials and private sector leaders to advance projects. With a focus on legal clarity, resource potential and project-ready opportunities, the event will foster high-level dialogue and promote Gabon as a rising hub for responsible, high-return mining investment in Africa. Distributed by APO Group on behalf of Energy Capital & Power. About African Mining Week: African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@
