MOIL Limited was incorporated on June 22, 1962 as a public limited company with the RoC under the name ‘Manganese Ore (India) Limited. Subsequently, the name of the Company was changed from Manganese Ore (India) Limited to MOIL Limited and a fresh certificate of incorporation consequent upon change of name was issued by the RoC on August 17, 2010.
In 1896, a British company by the name of Central Provinces Prospecting Syndicate was set up. In 1924, it changed its name to the Central Provinces Manganese Ore Company Limited (“CPMO”). CPMO ran extensive mining operations for manganese ore within the present-day state of Madhya Pradesh prior to Indian independence. The company was set up pursuant to an agreement dated June 8, 1962 between the GoI and CPMO (the “1962 Agreement”). Pursuant to the terms of this agreement, and certain assets of CPMO were transferred to the company in return for 49% of equity shares of the Company.
Business area of the Company:
MOIL is the largest producer of manganese ore by volume in India in Fiscal 2008 and has a long operating history of mining manganese ore in India based on more than four decades of experience since incorporation. It currently operates seven underground mines (Kandri, Munsar, Beldongri, Gumgaon, Chikla, Balaghat and Ukwa mines) and three opencast mines (Dongri Buzurg, Sitapatore/Sukli, and Tirodi).
The production of manganese ore of the company has increased from 864,890 tonnes in Fiscal 2006 to 1,093,363 tonnes in Fiscal 2010. As of July 1, 2010, the company has access to approximately 22.0 million tonnes of proved and probable reserves and 37.2 million tonnes of measured mineral resources of manganese ore. It produced 700,776 tonnes of manganese ore from the underground mines and 392,587 tonnes of manganese ore from its opencast mines in Fiscal 2010.
The Company is actively involved in exploration and development activities with a view to increase its proven manganese ore reserves. In addition, an area of approximately 814.71 hectares in the State of Maharashtra has been reserved for the company by a notification from the Ministry of Mines in October 2009. The Company has also applied for a prospecting license with respect to this area.
In addition to high, medium and low grade manganese ore, the company’s products include manganese dioxide and chemical grade manganese ore. At the Balaghat and Dongri Buzurg mines, which are its largest mines, the company has beneficiation plants to upgrade the quality of the manganese ore produced, which they sell commercially and also use in the manufacturing of the value-added products such as high carbon ferro manganese (“HCFM”) and electrolytic manganese dioxide (“EMD”). As of August 31, 2010, processing capacity at the Balaghat and Dongri Buzurg mines was 500,000 tonnes and 400,000 tonnes per annum (“TPA”), respectively.
The company, which has been conferred the Mini Ratna status in 2008, intends to expand its value-added production capacity and for that even has entered into joint ventures with Steel Authority of India Limited (“SAIL”) and Rashtriya Ispat Nigam Limited (“RINL”) to set up ferro alloy plants in Chhattisgarh and Andhra Pradesh, respectively, which are collectively expected to produce ferro manganese (with a total installed capacity of 51,000 TPA) and silico manganese (with a total installed capacity of 112,500 TPA). The Company also owns two wind farms with a with a total aggregate capacity of 20.0 MW in Nagda Hills and Ratedi hills near Dewas in the state of Madhya Pradesh.
1962- Incorporation of the Company
1977- Transfer of entire stake by CPMO to Government of India and Company became a 100% Government owned company;
1991- Set up Electrolytic Manganese Dioxide Plant (“EMD”) at Dongri Buzurg mine.
1998 -Set up High Carbon Ferro Manganese plant with capacity of 10,000 TPA at Balaghat mine.
2001- Set up integrated Manganese Beneficiation Plant at Dongri Buzurg mine.
2006 -Wind farm with power generation capacity of 4.8MW commissioned.
2007 -Achieved annual production of 1mn tones.
2008- Second wind farm with power generation capacity of 15.2 MW commissioned.
2009- Equity Shares of the Company split from Rs 100 per share to Rs 10 per share.
2010- Change in the name of the Company to MOIL Limited.
2010-International Convention on Quality Concepts Circle? Parakh Manganese Ore (India) Limited INDIA Gold Award from ICQCC.International Convention on Quality Concepts Circle Panchratna Manganese Ore (India) Limited INDIA Gold Award ICQCC-2010.2006- First prize – National Energy Conservation Award in the chemical sector awarded to the Company’s Electrolytic Manganese Dioxide Plant by the Government of India.
2007- First prize - National Energy Conservation Award for the Mining Sector awarded to the Chikla Mine by the Government of India.
2008- ISO 9001:2000 certificate issued by Vexil Business Process Systems for the Electrolytic Manganese Dioxide Plant certified for the ‘manufacture and supply of Electrolytic Manganese Dioxide’. This certification is valid until September 26, 2011.
2009- National Quality Circle Award - Team Pancharatna QC from Dongri Buzurg Mine awarded Par Excellent Award and Parakh QC from Tirodi Mine awarded Excellent Award.
2010- ISO 9001:2008 certificate issued by International Certification Services Private Limited for the Company’s quality management system. This certification is valid until March 16, 2013.