MOIL reports 43% increase in production and 52% in sales from April to November
MOIL Limited, an Indian state-owned manganese ore mining company, has reported a substantial 35% year-over-year increase in manganese (Mn) ore production for November 2023. The mining company’s production reached 1.62 lakh metric tonnes (MT) during the month, continuing its streak of impressive performance.
Strong Growth Throughout the Fiscal Year
The company has demonstrated remarkable growth of 43% year-over-year in production, with a total of 10.9 lakh tonnes of manganese ore produced from April to November 2023. This period also saw MOIL achieving a 52% increase in sales, indicating a strong market presence and demand.
Doubling Down on Exploration Efforts
MOIL has emphasized exploration in recent times. In November 2023 alone, the company achieved a significant milestone in core drilling, covering 7,551 meters. This effort marks a two-fold increase from the previous year. From April to November 2023, MOIL’s core drilling extended to 29,389 meters, showcasing a 2.5-fold rise compared to the same period last year.
Leadership’s Acknowledgement of Team Efforts
Ajit Kumar Saxena, the Chairman and Managing Director (CMD) of MOIL, congratulated the team for their consistent and stellar performance. He expressed confidence in the team’s ability to sustain these elevated levels of productivity and growth.