MOIL sees record production in April-June
The company witnessed its strongest-ever sales performance in the first quarter of the current financial year, registering sales of 3.96 lakh tonne, up 39%
New Delhi: MOIL has seen record quarterly production of 4.36 lakh tonne in the first quarter of FY24, up 35% compared to the corresponding period of last year, the Ministry of Steel said in a statement.
“The company’s exceptional performance in production reflects its commitment to maintaining a strong production tempo,” it added.
MOIL recorded its best-ever production of 1.5 lakh tonne in the month of June, surpassing all previous records for its monthly figures. This achievement highlights the company’s continuous efforts to enhance operational efficiency and productivity.
The company witnessed its strongest-ever sales performance in the first quarter of the current financial year, registering sales of 3.96 lakh tonne, up 39% over the corresponding period of last year.
Emphasizing its focus on exploration activities, MOIL conducted its best-ever quarterly exploratory core drilling, covering a total of 20,086 meters in the first quarter of FY24. This remarkable achievement marks a significant increase of 3.8 times compared to the previous year.
“This will not only form the basis of enhanced production from its existing mines but will also provide the foundation for opening new manganese mines in the country,” the ministry said.
MOIL has also recorded the highest production of electrolytic manganese dioxide during this quarter. EMD is a 100% import substitution product, used mostly for pharmaceuticals and manufacturing of batteries.
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First Published:3 Jul 2023, 02:42 PM IST
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