Saturday 15th June 2024

MOIL sales in May’24 Records thumping growth of 41% y-o-y

Jun 3rd, 2024 6:58 pm | By | Category: LATEST NEWS

MOIL limited scales a new peak of 2.15 lakh tonnes monthly sales of manganese ore in May, 2024, surpassing the previous record of 1.83 lakh tonnes in December, 2019 and registering an impressive growth of 41% over May’23. Sales during Apr-May’24, has been higher by 31.5% as compared to corresponding period last year (CPLY). Helped by market conditions, the company has increased the prices of various grades by about 65% in the current financial year.

On the production front, 3.05 lakh tonnes of manganese ore production was achieved in Apr-May, 2024, registering a growth of 7% over CPLY.

MOIL has also continued its focus on exploration activities and carried out exploratory core drilling of 18,609 meters in Apr-May’24, which is higher by 26% y-o-y.

SAjit Kumar Saxena, CMD, MOIL, congratulated MOIL collective on this historic performance, appreciating the team’s efforts to well utilize the opportunities in the market.

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