MOIL signs draft JV agreement with Madhya Pradesh State Mining Corporation.

Economy Business

Nagpur (Maharashtra)-based MOIL Limited (formerly known as Manganese Ore (India) Limited), has signed a draft Joint Venture (JV) agreement with Madhya Pradesh State Mining Corporation Limited (MPSMCL) at the Madhya Pradesh Mining Conclave 2024, held in Bhopal, Madhya Pradesh (MP).


      - This collaboration is aimed at enhancing manganese ore mining and initiating value-addition projects within MP.

      - Under this agreement, a JV will be established with a shareholding pattern of 51% for MOIL and 49% for MPSMCL.

      - The partnership aims to tap into the extensive manganese ore reserves in MP, driving economic progress and generating numerous job opportunities in the state, supporting the Atma Nirbhar Bharat initiative.

Main Points:-   (i) MOIL, founded in 1896, is a Miniratna Public Sector Undertaking (PSU) under the Ministry of Steel (MoS).

      (ii) MPSMCL, established in 1962, operates under the Madhya Pradesh State Mineral Resource Department.


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