MOIL hits one million tonne manganese ore production pays 80 per cent interim dividend

Manganese Ore (India) Limited (MOIL) has achieved one million tonne production of manganese ore during the current financial year. The company has produced 10,19,000 tonnes of manganese ore, recording a rise of 18% over the previous year. The company has also produced 10,000 tonnes of Ferro manganese, a rise of 62% over last year. The company is expected to achieve a turnover of Rs. 405.50 crore and net profit of Rs. 130.06. Giving out the provisional figures for the financial year 2006-07, the Chairman of the Company Shri K.L. Mehrotra said that the company has signed MOUs with three South African Companies for production of ferro alloys, ore blending and beneficiation/mineral processing. The Companies are BHP Billiton, South Africa for blending of Manganese ore, Bateman International Projects, B.V., South Africa for manganese ore beneficiation, mineral processing and allied areas. It has also signed the third MOU with Richards Bay Industrial Development Zone, Richards Bay, South Africa for installation of Ferro Alloy plant in RSA. Shri Mehrotra was briefing the Minister for Steel, Chemicals & Fertilizers in New Delhi today after presenting him the Interim Dividend cheque for Rs. 18.27 crore. The Interim Dividend is at 80 per cent on the expanded equity capital. The Minister of State for Steel, Dr Akhilesh Das and the Secretary, Ministry of Steel, Shri R.S. Pandey, Special Secretary, Shri AK Rath were presented. Appreciating the performance of the Company, Shri Paswan asked the Chairman to improve the turnover, production and profit further.

Source : Press Information Bureau

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