State-owned manganese ore mining firm MOIL Ltd is working on multiple new projects worth cumulatively Rs 581 crore at its mines in Madhya Pradesh and Maharashtra, according to its annual report. The company is aiming to complete these projects by August 2021, the miner said in its Annual Report 2019-20.
Manganese is used to make steel which adds strength to steel. MOIL, under the Ministry of Steel, is the largest producer of manganese ore in the country and operates 11 mines in the states of Maharashtra and Madhya Pradesh.
At Munsar mine in Maharashtra, the company is setting up a new vertical shaft at a depth of 160 metres at a capital cost of Rs 51.32 crore. The project will complete by November 2020, the report said.
Another project of Rs 77.15 crore for setting up a sinking vertical shaft at a depth of 324 metres is going on at the company’s Ukwa mine in Madhya Pradesh. The project is expected to be completed in August 2021, the PSU said.
At Balaghat mine in Madhya Pradesh, work for sinking a large diameter high-speed vertical shaft of 750-metre depth is undergoing. The shaft sinking and lining up to 480-metre depth at Rs 259-crore project site is completed and the overall project is scheduled to be completed in July 2021, it said.
In the report, MOIL also informed about two projects worth Rs 418.82 crore, for which its board has already given approval.
The company plans 50,000 MTPA (tonnes per annum) ferro alloys plant at Balaghat mine with an investment of Rs 263.82 crore, and 25,000 MTPA ferro alloys plant at Gumgaon mine with an investment of Rs 155 crore.