Moil core production up 10% at 9.7 lakh tonne

India's largest manganese ore producer Moil Ltd recorded 9.9 per cent growth in its core production at 9.77 lakh tonne in 2014-15.
The state-owned company had clocked 8.89 lakh tonnes in the 2013-14 fiscal, it said.
In a regulatory filing Moil said: "The company has recorded core production-ferro and silico grade of manganese ore, excluding fines at 9.77 lakh tonnes during 2014-15 in comparison to 8.89 lakh tonnes during 2013-14."
Meanwhile, the company has slashed prices of various grades of manganese ore by up to 25 per cent for the April-June quarter.
Government has already started the process for the disinvestment of MOIL's 10 per cent stake through an offer for sale which could fetch around Rs 500 crore to the exchequer.

It holds 71.57 per cent in the Miniratna PSU which is the largest producer of high grade manganese ore -- an essential input for steel making.
Shares of Moil Ltd closed at Rs 278.10, down 0.84 per cent, on the BSE.