MOIL eyes overseas expansion
- September 19, 2024
- Posted by: OptimizeIAS Team
- Category: DPN Topics
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MOIL eyes overseas expansion
Sub: Geo
Sec: Eco Geo
Context:
- MOIL (Manganese Ore India Ltd), a state-owned company, is planning to expand its operations both domestically and internationally.
- MOIL HQ: Nagpur, India.
Key points:
- International Expansion:
- Seeking overseas acquisitions for manganese ore mines and other critical minerals
- Target regions: Africa (South Africa, Gabon), Australia, and Latin America (Brazil)
- South Africa has the largest manganese ore reserves globally
- Gabon holds about 25% of the world’s manganese resources
- Australia is a major manganese ore exporter
- Domestic Expansion:
- Exploring opportunities in Gujarat, Madhya Pradesh, and Chhattisgarh
- Advanced discussions for a joint venture (JV) with the Gujarat government and GMDC
- 5 million tonnes of manganese ore reserves identified
- Current Operations:
- 10 existing mines across Maharashtra and Madhya Pradesh
- Maharashtra: Gumgaon, Kandri, Munsar, Beldongri, Dongri Buzurg, Chikia
- Madhya Pradesh: Sitapatore, Tirodi, Balaghat, Ukwa
- FY24 production: 56 lakh tonnes (up 35% year-on-year)
- FY25 production target: 21 lakh tonnes
- Planned capital expenditure: ₹320 crore
- 10 existing mines across Maharashtra and Madhya Pradesh
- Market Position:
- Accounts for over 50% of India’s manganese ore production
- India’s Ferro Alloys Production (FY24):
- Manganese alloys:5 million tonnes (1.8 million tonnes exported)
- Chrome alloys:5 million tonnes (0.75 million tonnes exported)
- Total ferro alloys:2 million tonnes (2.6 million tonnes exported)
Manganese:
- Manganese is a crucial element in the steel industry, used to enhance its strength, hardness, and resistance to corrosion. It’s also used in other applications like dry-cell batteries, pigments, and agricultural products.
- Global Producers of Manganese Ore: South Africa, China, Gabon, Australia, Ukraine.
- Global Exporters of Manganese Ore: South Africa, Gabon, Ukraine, Australia, China
- Global Importers of Manganese Ore: China, Japan, India, South Korea, United States
- Producer States of Manganese Ore in India: Madhya Pradesh, Maharashtra, Orissa, Andhra Pradesh, Gujarat