MOIL Clocks 17 Pc Jump In Manganese Ore Production At 1.45 Lakh Tonnes In Aug

(MENAFN- IANS) New Delhi, Sep 3 (IANS) India's largest manganese ore producer MOIL continued its robust growth trajectory with the highest-ever August production of 1.45 lakh tonnes during the month, registering an impressive 17 per cent growth over the same month last year, according to a statement issued by the Ministry of Steel on Wednesday.

On the sales front, the company also delivered strongly with 1.13 lakh tonnes of sales in August, reflecting a remarkable 25.6 per cent growth year-on-year compared to the same month of the previous year.

Further, during April–August 2025, MOIL recorded its best-ever performance with 7.92 lakh tonnes of production which represents a 9.3 per cent year-on-year increase.

The government-owned company, which supplies manganese ore as an input for making steel, also achieved its best-ever exploratory core drilling of 50,621 metres during April-August of the current financial year, which represents an 8.6 per cent increase over the same period of the previous year.

Ajit Kumar Saxena, CMD, congratulated team MOIL for this record performance and appreciated their relentless efforts to achieve growth in production and sales, even under challenging weather conditions.

The share price of MOIL rose 6.45 per cent to Rs 367.05 after the company announced its production figures on Tuesday.

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.

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