Manganese major MOIL clocks best-ever October production of 1.6 lakh tonnes

New Delhi, Nov 5 (IANS) India’s largest manganese ore producer MOIL continued its robust growth trajectory with the highest-ever October production of 1.6 lakh tonnes, registering a growth of 9.1 per cent over the same month last year, according to a statement issued by the Ministry of Steel on Wednesday.

During the first seven months of FY26, the company has recorded production of 11.04 lakh tonnes, which represents an 8.5 per cent growth over the same period of the previous year.

Continuing its strong focus on exploration, MOIL has achieved its highest-ever exploratory core drilling of 57,275 metres during the period April–October 2025, the statement said.

The public sector company has maintained its strong drill pace after having achieved its best ever Q2 exploratory core drilling of 21,035 metres, which represents a 4.1 per cent growth over the corresponding figure of the same quarter of the previous year.

Commenting on the performance, MOIL chairman and managing director Ajit Kumar Saxena said, “It is encouraging that the upward trend in production during the first seven months has been maintained. The MOIL team is fully geared up to register yet another impressive performance in the current year.”

MOIL is a Schedule 'A' Miniratna Category-I Public Sector Undertaking that is engaged in the business of mining and supplying manganese. At present, the company operates its underground and opencast mines located in the Nagpur and Bhandara districts of Maharashtra and Balaghat district of Madhya Pradesh.

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.

--IANS

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