MOIL is seeking to expand its manganese production through new domestic mines and international acquisitions to address supply shortages in the steel industry.
Reader brief
Through the Reader lens: MOIL aims to reach 3.5 million tonnes of manganese production by 2030-31 to bridge the gap between supply and demand. To achieve this, the company is forming joint ventures for domestic exploration and scouting for mineral assets in countries like Ghana, Mozambique, and Zambia. Additionally, the company is exploring opportunities in critical minerals such as nickel while seeking support from the Indian government for negotiations.
What to watch next
- Outcome of MOIL's due diligence for international mining acquisitions
- Development of domestic mines via joint ventures in Gujarat and Madhya Pradesh
- Potential rebound in manganese prices in the December quarter
What was said2
Attributed, verbatim. Every quote is checked against the article it came from. One that does not match is not shown.
Rashmi Singh
1 quote“We are still at the discussion stage and finalise the investment at the due diligence stage.”
In the article
…at Ghana, Mozambique and Zambia. Along with manganese, the company is also looking at opportunities in critical minerals including nickel and is seeking the Indian government’s help on the negotiation front, she said. “ We are still at the discussion stage and finalise the investment at the due diligence stage. Overall, our production is increasing and manpower comes down to align with the government set targets,” she added. Manganese prices have also bottomed out and should rebound in the December quarter,” said…
Manish Sarda
1 quote“Securing indigenous sources of critical raw materials must be a priority for Indian ferro-alloy producers to become globally competitive and support the vision of Aatmanirbhar Bharat”
In the article
…material blending for India’s ferroalloy producers. Sarda said the halt in mining operations had not only affected raw material security but also led to the closure of Goa’s two local manganese alloy production units. “ Securing indigenous sources of critical raw materials must be a priority for Indian ferro-alloy producers to become globally competitive and support the vision of Aatmanirbhar Bharat ,” Sarda said. He called for faster exploration and development of domestic manganese, chrome and other critical minerals, saying several manganese ore mines auctioned at high premiums remained non-operational because…
Sources1
- [1]The Hindu BusinessLineneutralMOIL scouts for new manganese mines in India, overseas