Maintaining a steady production tempo is crucial for any mining company to meet market demands and sustain growth. In this regard, MOIL, India’s largest manganese ore producer, has set new benchmarks with its outstanding performance in the first quarter of the fiscal year 2023-24 (FY’24). The company not only achieved its best-ever quarterly manganese ore production but also recorded remarkable sales figures and made significant strides in exploration activities. These achievements reflect MOIL’s dedication to excellence and its commitment to contributing to India’s self-reliance in critical sectors.
Unprecedented Manganese Ore Production:
MOIL’s first quarter performance in FY’24 showcased an extraordinary production tempo, with the company achieving its highest-ever quarterly manganese ore production of 4.36 lakh MT. This notable accomplishment represents a remarkable growth rate of 35% compared to the corresponding period last year (CPLY). Moreover, MOIL also achieved its best-ever monthly production in June, reaching 1.5 lakh MT. These achievements can be attributed to MOIL’s focus on operational efficiency, technological advancements, and strategic resource management.
Record-breaking Sales Performance:
In addition to its impressive production figures, MOIL recorded its best-ever first-quarter sales performance in FY’24. The company registered sales of 3.96 lakh MT, indicating a substantial growth rate of 39% over CPLY. This exceptional sales performance can be attributed to MOIL’s strong market presence, effective distribution channels, and the high quality of its manganese ore. The increased sales not only generate revenue for the company but also contribute to the nation’s economic growth.
Thrust on Exploration Activities:
MOIL’s commitment to growth extends beyond production and sales. The company also focused on exploration activities in the first quarter of FY’24. MOIL accomplished its best-ever quarterly exploratory core drilling, covering an impressive distance of 20,086 meters. This figure is 3.8 times higher than the corresponding period last year (CPLY). The extensive exploration efforts will not only enhance production from existing mines but also lay the foundation for the development of new manganese mines in the country. MOIL’s proactive approach to exploration ensures a continuous supply of essential raw materials for various industries.
Highest Production of Electrolytic Manganese Dioxide (EMD):
During the first quarter of FY’24, MOIL achieved its highest production of Electrolytic Manganese Dioxide (EMD), a crucial product in the pharmaceutical and battery manufacturing sectors. EMD is a 100% import substitution product, and MOIL’s remarkable production capacity contributes to reducing the nation’s reliance on imports. This achievement demonstrates MOIL’s role as a catalyst in promoting self-sufficiency in critical industries.
