MOIL registers growth of 60% during month over Oct: Steel ministry

State-owned miner MOIL produced 1.2 lakh tonne of manganese ore last month, registering a growth of 60 per cent over October.

The state-owned firm is braced for much better performance in the remaining period of the ongoing fiscal year, the steel ministry said in a statement.

"On the sales front, MOIL has recorded a growth of 82 per cent during the period over the previous month, in spite of challenging market conditions," it said.

MOIL, under the steel ministry, is the largest producer of manganese ore in the country and operates 11 mines in Maharashtra and Madhya Pradesh.

The PSU holds about 34 per cent of the manganese ore reserves of the country. The company has an ambitious vision of almost doubling its production to 3 million tonne by 2030.

MOIL is also exploring business opportunities in Gujarat, Rajasthan and Odisha besides other areas in Madhya Pradesh.