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MOIL Achieves Record Manganese Ore Production and Sales, Sets New Benchmarks

Published 03-01-2024, 08:26 am
© Reuters.
MOIL
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By Aayush Khanna

In a remarkable display of operational excellence, MOIL (NS:MOIL), the leading manganese ore producer, achieved its highest-ever monthly production in December 2023, reaching 1.85 lakh MT—an impressive 31% YoY growth. The company's stellar performance extends to the fiscal year up to December 2023, boasting a substantial 41% YoY increase, with a total manganese ore production of 12.73 lakh MT.

The sales front mirrors this success, as MOIL recorded a remarkable 40% growth in the first nine months of FY'24, selling a total of 11.01 lakh MT of manganese ore. This robust sales performance is indicative of the company's strategic focus and market demand for its high-quality manganese ore products.

MOIL's commitment to exploration is evident in its achievements in core drilling. In December 2023 alone, the company accomplished a record-breaking 11,482 meters of core drilling—the highest monthly figure since its inception. The cumulative core drilling for the Apr-Dec 2023 period stands at an impressive 60,870 meters, more than doubling the figures from the previous year.

Commending the collective efforts of the company's workforce, Shri Ajit Kumar Saxena, CMD of MOIL, addressed a large gathering of employees on January 1, 2024. He expressed congratulations for their dedication, which played a pivotal role in achieving this outstanding performance. The company's employees, in turn, expressed confidence in sustaining this growth trajectory and offered valuable suggestions for further improvement.

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