MOIL Limited sets new record in manganese ore production in December 2023

MOIL Limited, a Miniratna state-owned manganese ore mining company in India, has achieved a significant milestone with a record production of manganese ore. In December 2023, the company reported an impressive production of 1.85 lakh metric tons (MT), marking a 31% year-over-year increase. This achievement demonstrates MOIL’s continued commitment to enhancing its mining operations and productivity.

Significant Growth in Fiscal Year 2023-2024:

The company has not only excelled in monthly production but also witnessed remarkable year-over-year growth of 41% in the current fiscal year up to December 2023. The cumulative production reached 12.73 lakh MT of manganese ore, showcasing MOIL’s operational efficiency and strategic planning in mining activities.

MOIL Limited Achieves Record Manganese Production in December 2023

Sales Growth Parallel to Production:

Alongside its production success, MOIL Limited also experienced a substantial 40% increase in sales during the first nine months of the fiscal year 2024. The company’s sales volume of manganese ore reached 11.01 lakh MT, reflecting strong market demand and effective sales strategies.

Exploration and Drilling Efforts:

MOIL Limited has placed a significant emphasis on exploration to sustain and expand its mining capabilities. In December 2023 alone, the company achieved its best-ever monthly core drilling, covering 11,482 meters. This record drilling is part of a broader effort, with MOIL accomplishing 60,870 meters of core drilling during April-December 2023, more than doubling the year-over-year figures.

Ajit Kumar Saxena’s Address to the Workforce:

Ajit Kumar Saxena, the Chairman and Managing Director (CMD) of MOIL, addressed the company’s employees on January 1, 2024. He congratulated the workforce for their concerted efforts, which have been instrumental in achieving these remarkable results. The employees expressed their commitment to maintaining this growth trajectory and offered suggestions for further improvement.