MOIL is operating underground manganese ore mine at Ukwa in Balaghat Dist. of Madhya Pradesh. Present capacity (EC limit) of this mine is 1,15,000 tonnes per annum.
MOIL got Environmental Clearance for Mn. Ore mine in an area of 48.974 hectares for additional production capacity of 1,20,000 tonnes per annum. This area is adjacent to Ukwa mine of the Company. Total reserve of this new lease area is estimated at 3.8 Million tons.
Mining operations will be carried out through underground mining method and necessary steps shall be taken to approach the ore body as early as possible. However, it is expected to touch ore body and production during 2020.
After the environmental clearance, total production capacity of Ukwa block will be 2,35,000 tonnes per annum.
Shares of MOIL LTD. was last trading in BSE at Rs.152.3 as compared to the previous close of Rs. 152.4. The total number of shares traded during the day was 12848 in over 313 trades.
The stock hit an intraday high of Rs. 158.95 and intraday low of 151.3. The net turnover during the day was Rs. 1957740.