MOIL (earlier known as Manganese Ore (India) Limited) is a miniratna state-owned

manganese ore Manganese is a chemical element with the symbol Mn and atomic number 25. It is a hard, brittle, silvery metal, often found in minerals in combination with iron. Manganese is a transition metal with a multifaceted array of industrial alloy use ...

mining Mining is the extraction of valuable minerals or other geological materials from the Earth, usually from an ore body, lode, vein, seam, reef, or placer deposit. The exploitation of these deposits for raw material is based on the economic ...

company headquartered in

Nagpur Nagpur (pronunciation: aːɡpuːɾ is the third largest city and the winter capital of the Indian state of Maharashtra. It is the 13th largest city in India by population and according to an Oxford's Economics report, Nagpur is projected to ...

India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...

. With a market share of 50%, it is the largest producer of manganese ore in India. MOIL operates 11 mines in adjoining districts of Maharashtra and

Madhya Pradesh Madhya Pradesh (, ; meaning 'central province') is a state in central India. Its capital is Bhopal, and the largest city is Indore, with Jabalpur, Ujjain, Gwalior, Sagar, and Rewa being the other major cities. Madhya Pradesh is the seco ...

. It has been ranked #486 among the 500 top companies in India and 9th in the Mines and Metals Sector of the

Fortune India 500 The ''Fortune India'' 500 is a ranking of the top 500 corporations in India compiled on the basis of latest sales and gross revenue figures. The list is published annually by ''Fortune'' magazine. ''Fortune India'' is ''Fortune'' sixth internatio ...

list for 2011. In December 2010, the

Government of India The Government of India (ISO: ; often abbreviated as GoI), known as the Union Government or Central Government but often simply as the Centre, is the national government of the Republic of India, a federal democracy located in South Asia, ...

divested about 20% of its equity through an

IPO An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

. Of the 20%, the Indian Government's share will be 10%, and the Governments of Maharashtra and the

Government of Madhya Pradesh Government of Madhya Pradesh also known as the State Government of Madhya Pradesh, or locally as the State Government, is the supreme governing authority of the Indian state of Madhya Pradesh and its 52 districts. It consists of an executive ...

will each divest 5% of the total equity. The central government holds 54% and the two state governments hold about 11% shares in MOIL. and the public holds about 35% shares. The shares were listed in 2011 at Rs. 440, went down to a low of Rs. 188 on 13 July and 15 February, before recovering currently to Rs. 351. The company issued one bonus share for every share held on 28 Sep 2017. The share price was about Rs. 140 in January 2021.

History

MOIL was originally set up as "Central Province Prospecting Syndicate" in the year 1896 in the region of Maharashtra and

. It was later renamed as "Central Provinces Manganese Ore Company Limited (CPMO)" in 1935. In 1962, the Government of India took over the mining activities from CPMO. Then, Manganese Ore (India) Limited was formed with 51% stake held between the Government of India and the Maharashtra and Madhya Pradesh State governments. The other 49% was retained with CPMO. In 1977, the balance of 49% was acquired from CPMO, and MOIL became a 100% state-owned enterprise.

Mines

Eight of MOIL's eleven mines are underground mines (Kandri, Munsar, Beldongri, Gumgaon, Chikla, Balaghat and Ukwa mines) and three are opencast mines (Dongri Buzurg, Sitapatore, and Tirodi). Its Balaghat mine is the largest of the 11 mines and the deepest at 383 metres.

Products

MOIL excavates manganese dioxide ore from its mines. The production was 1.3 million tonne in 2020. Various grades of the ore are used for production of manganese metal and alloys such as ferro-manganese and silicon-manganese. Refined manganese dioxide is used as a supplement in cattle feed, in fertilizers and in chemical industry. MOIL refines the ore to produce 1,000 tonne electrolytic grade used in dry batteries. MOIL uses its ore to produce 11,000 tonne of ferro-manganese. The total sales were Rs. 16.3 billion in 2018.19 but only Rs. 12.2 billion in 2019–20. MOIL also produces 30 MW electricity by wind mills.

See More

List of companies of India India is a country in South Asia. It is the seventh-largest country by area, the second-most populous country (with over 1.2 billion people), and the most populous democracy in the world. In 2019, the Indian economy was the world's fifth ...

References

External links

Official Website
* {{DEFAULTSORT:Moil Limited Government-owned companies of India Mining companies of India Companies based in Maharashtra Mining in Maharashtra 1962 establishments in Maharashtra Indian companies established in 1962 Companies listed on the National Stock Exchange of India Companies listed on the Bombay Stock Exchange