New Delhi: MOIL Limited has recorded its second highest production since inception, registering six per cent growth over the previous year record with the production of 13.02 lakh tonnes of Manganese (Mn) ore in FY 2022-23.

The capital expenditure of Rs 245 crore has also been achieved in FY’23, which is 14 per cent higher than FY 2021-22.

Ajit Kumar Saxena, CMD, said that MOIL is poised to achieve much higher levels of production in the coming years, with strategies and action plans for it firmly in place.

With utmost thrust on exploration, MOIL has carried out the best ever exploratory core drilling of 41,762 metres in FY '23, which is 2.7 times of the average exploration achieved in the last five years.

The same will not only form the basis of enhanced production from its existing mines but will also be the foundation of opening new Manganese mines in the country.

The sales turnover of Electrolytic Manganese Dioxide (EMD) reached a new high, which is more than two times than previous year. EMD is a 100 per cent import substitution product, used mostly for pharmaceuticals and manufacturing of batteries.

A Schedule-A, Miniratna Category-I CPSE under the administrative control of Ministry of Steel, MOIL is the largest producer of manganese ore in the country, contributing around 45 per cent of the domestic production. It operates eleven mines in the state of Maharashtra and Madhya Pradesh. /BI/