MOIL

As on June 22, 1962, it was being incorporated as a public limited company with the RoC under the company name ‘Manganese Ore (India) Limited. Soon, the company name was changed from Manganese Ore (India) Limited to the MOIL Limited, and the RoC was issuing a fresh certificate of incorporation as on August 17, 2010.

The business area of the Company:

It is the largest producer of manganese ore by volume in India in Fiscal 2008 and also has a long operating history of mining manganese ore in India based on more than four decades of experience since its incorporation. Currently, it operates seven underground mines (Munsar, Kandri, Beldongri, Gumgaon, Chikla, Balaghat, and Ukwa mines) and other three opencast mines (Sitapatore/Sukli, Dongri Buzurg, and Tirodi).

Also, the manganese ore production of the company increased from 864,890 tonnes in Fiscal 2006 to 1,093,363 tonnes in Fiscal 2010. Even on July 1, 2010, it has access to about 22.0 million tonnes of proved and probable reserves and also 37.2 million tonnes of the measured mineral resources of the manganese ore. Also, it produced 700,776 tonnes of the manganese ore from the underground mines and about 392,587 tonnes of manganese ore from its opencast mines in Fiscal 2010.

It is actively involved in both the exploration and development activities to increase its proven manganese ore reserves. Besides, an area of about 814.71 hectares in Maharashtra has been reserved for the company via a notification from the Ministry of Mines as of October 2009. It also has applied for a prospecting license concerning this area.

Besides, to high, medium and low-grade manganese ore, its products include manganese dioxide and chemical grade manganese ore. And at the Balaghat and Dongri Buzurg mines that are its largest mines, it has beneficiation plants of upgrading the quality of the manganese ore produced that they can sell commercially and also use it in the manufacturing of the value-added products such as electrolytic manganese dioxide (“or EMD”), and high carbon ferromanganese (“or HCFM”). On August 31, 2010, its processing capacity at the Balaghat and Dongri Buzurg mines was about 500,000 tonnes and 400,000 tonnes per annum (“TPA”), each.

It was conferred the Mini Ratna status in 2008, and it intends to expand its value-added production capacity and is also in joint ventures with Steel Authority of India Limited (“or SAIL”) and Rashtriya Ispat Nigam Limited (“or RINL”) to set up ferroalloy plants in both Chhattisgarh and Andhra Pradesh, that can collectively produce ferromanganese (with a total installed capacity of about 51,000 TPA) and silicomanganese (of about 112,500 TPA). It also owns two wind farms a total aggregate capacity of about 20.0 MW in Nagda Hills and Ratedi hills that is near Dewas in Madhya Pradesh.

Some of the Milestones:

1. 1962: Incorporation of the Company

Transfer of mining leases for manganese ore over the Nagpur, Dongri Buzurg and other areas, consumable stores, and other fixed assets from CPMO according to the 1962 Agreement.

2. 2006: Windfarm with a power generation capacity of 4.8MW commissioned.

3. 2007: It achieved annual production of about 1mn tonnes.

It shifted to its present corporate office at ‘MOIL Bhavan’ located at the 1–A, Katol Road, Nagpur.
It set up an integrated Manganese Beneficiation Plant located at Balaghat mines with a capacity of about 0.5mn TPA.

4. 2009: The equity shares of the company were split from INR 100 per share to INR 10 per share.

It also issued the Bonus Shares in the ratio 1:5.
It achieved an annual turnover of more than INR 1000mn.
It incorporated 50:50 Joint Venture company ‘RINMOIL Ferro Alloys Private Ltd,’ along with Rashtriya Ispat Nigam Limited (or RINL) to manufacture ferroalloys at Vizag (in AP).

5. 2010: The change in the company name to MOIL Limited.

Some of the Achievements:

· 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. First prize – National Energy Conservation Award in the mining sector awarded to the Balaghat Mine by the Government of India.

· 2007: First prize - The National Energy Conservation Award for the Mining Sector was being awarded to the Chikla Mine by the GoI. National Safety Award – Winner’s Trophy for Longest Accident-Free Period at Dongri Buzurg Mine awarded from Directorate General of Mines Safety, Ministry of Labour & Employment, Government of India. National Safety Award - It received the runners-up trophy for the lowest injury frequency rate at Beldongri Mine that was awarded by the Directorate General of Mines Safety, Ministry of Labour and Employment, GoI.

· 2009: National Quality Circle Award - Team Pancharatna QC from Dongri Buzurg Mine also awarded Par Excellent Award, as well as Parakh QC from Tirodi Mine also awarded the Excellent Award. It received the second prize in the National Energy Conservation Award for the achievements in the Mining sector awarded to the Company by the GoI, Ministry of Power. OHSAS 18001: Vexil Business Process Systems were issuing 2007 for the Opencast Mining and Sale of Manganese Ore located at Dongri Buzurg Mine. It is valid until October 8, 2012. OHSAS 18001: Vexil Business Process Systems were issuing 2007 for the Underground Mining and Sale of Manganese Ore located at Balaghat Mine. It is valid until October 8, 2012.

MOIL Share Price Chart