MOIL Ltd, India’s largest manganese ore producer, has reported a total production of 1.76 million tonnes of manganese ore in financial year 2023-24 (FY24). This accounts for 52% of the country’s total domestic production, which stood at 3.37 million tonnes, according to data from the Ministry of Steel.
The company remains a key supplier to the steel industry, meeting nearly half of India’s total manganese ore demand. In the past year, MOIL has significantly ramped up production, registering a year-on-year (YoY) increase of 7.3% from 1.64 million tonnes in FY23.
Key Financial and Production Highlights:
- Total Production (FY24): 1.76 million tonnes
- India’s Total Domestic Production: 3.37 million tonnes
- MOIL’s Share of Domestic Production: 52%
- Production Growth (YoY): 7.3% (from 1.64 million tonnes in FY23)
- Total Sales (FY24): 1.74 million tonnes
- Manganese Ore Prices (Q4 FY24): Increased by 4% compared to Q3 FY24
MOIL has also been focusing on mine expansion and infrastructure upgrades, with a planned capital expenditure (capex) of ₹330 crore for FY25. This includes new mining projects, technology upgradation, and capacity expansion across its existing operations.
The company continues to prioritize employee welfare by maintaining residential quarters, canteens, hospitals, and healthcare centers for mine workers. It also supports schools in mining areas to contribute to community development.
The information was shared by Shri Bhupathiraju Srinivasa Varma, Minister of State for Steel and Heavy Industries, in a written reply to the Lok Sabha on March 18, 2025.
MOIL’s dominant position in India’s manganese ore market underscores its strategic importance in the steel sector, ensuring steady raw material supply for domestic steel producers.
