MOIL Plans Overseas Expansion.

State-owned MOIL (formerly Manganese Ore India Ltd) is exploring overseas acquisitions of manganese ore mines and other critical minerals as part of its diversification strategy. The company is also expanding its domestic operations by partnering with state governments in Gujarat, Madhya Pradesh, and Chhattisgarh for manganese ore mining.

Manganese, a key material in steel production, enhances the strength, workability, and wear resistance of steel. MOIL, which currently operates 10 mines in Maharashtra and Madhya Pradesh, accounts for over 50% of India's manganese ore production.

At the 4th International Ferro Alloys Conference, MOIL Chairman and Managing Director Ajit Kumar Saxena announced plans to pursue joint ventures (JVs) with state governments. In Gujarat, MOIL has identified 9.5 million tonnes of manganese ore reserves and is in advanced talks with the state government and Gujarat Mineral Development Corporation Ltd (GMDC). Production is expected to begin 12–18 months after the JV is finalized.

In Madhya Pradesh, the company has established resources and is working on forming a JV with the state government and its mineral development corporation. Exploration activities have also begun in Chhattisgarh since June.

MOIL’s domestic and international efforts align with its goal of increasing production. For FY24, the company reported an annual production of 1.76 million tonnes, a 35% year-on-year increase. It is targeting 2.1 million tonnes for FY25, with a planned capital expenditure of ₹320 crore.

India’s ferro alloys industry also continues to thrive, with FY24 production of manganese alloys at 3.5 million tonnes, of which nearly half were exported. MOIL’s expansion initiatives will further strengthen its position in both the domestic and global markets.

HBL