MOIL sales registers a new high in May 2024

On the production front, 3.05 lakh tonnes of manganese ore production was achieved in Apr-May, 2024, registering a growth of 7% over CPLY.

State-owned manganese ore mining company, MOIL scales a new peak of 2.15 lakh tonnes monthly sales of manganese ore in May 2024, surpassing the previous record of 1.83 lakh tonnes in December 2019 and registering an impressive growth of 41% over May’23. Sales during Apr-May’24 have been higher by 31.5% as compared to the corresponding period last year (CPLY). Helped by market conditions, the company has increased the prices of various grades by about 65% in the current financial year.

On the production front, 3.05 lakh tonnes of manganese ore production was achieved in April-May, 2024, registering a growth of 7% over CPLY.

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MOIL has also continued its focus on exploration activities and carried out exploratory core drilling of 18,609 meters in Apr-May’24, which is higher by 26% y-o-y. Shri Ajit Kumar Saxena, CMD MOIL, congratulated MOIL collective on this historic performance, appreciating the team’s efforts to well utilize the opportunities in the market.

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