MOIL plans major expansion

Mumbai: MOIL is planning to expand its manganese ore production capacity at it's existing mines.

The company is looking at deepening of the production shaft at the Balaghat mine and Gumgaon mine and sinking of the vertical shaft at the Munsar mine. This will help in expansion as well as to sustain our production capacity for manganese ore.

MOIL has committed Rs 49.81 crore in capital expenditure in connection with these expansion projects. MOIL also intends to add to its current reserves and resources by undertaking exploration in and around its existing lease areas. The company has applied for a prospecting license for mining in approximately 814.71 hectares in Maharashtra. In addition, it is engaged in ongoing exploration efforts in portions of our approximately 1,798.9 hectares of land already held under long-term mining leases in relation to its existing mining complexes.