MOIL's Output Grows 6% To 1.3 MT In FY23, 14% Higher Capex Utilised
Listen to This Article
State-owned MOIL has registered a 6 per cent rise in its manganese ore production to 1.3 million tonnes (MT) in 2022-23.
The company also utilised 14 per cent higher capital expenditure in the financial year that ended March 31 over 2021-22, the Ministry of Steel said in a statement.
MOIL Ltd recorded its second-highest production since inception, registering a 6 per cent growth to 1.3 million tonnes in FY23 over the previous year.
During FY23, MOIL carried out its best-ever exploratory core drilling of 41,762 metres which is 2.7 times of the average exploration achieved in the last 5 years.
MOIL, under the Ministry of Steel, is the largest producer of manganese ore in the country, contributing 45 per cent of the domestic production. It operates 11 mines in Maharashtra and Madhya Pradesh.
Coutts Sets Scope On New Continent
Coutts steps into private marketsCoutts, the private bank best known for serving Britain’s wealthiest families and the... Read more
From Cypherpunk To Citadel
How Crypto Moved from the Wild West to the Mainstream Financial SystemA long-form analysis of Bitcoin's journey from fri... Read more
ACB Securities: Building Scale, Trust & Innovation
ACB Securities: Building Scale, Trust and Innovation in Vietnam’s Capital MarketsACB Securities (ACBS) is emerging as ... Read more
War Risk Returns To Markets As VIX Surges
For most of the past year, global markets behaved as though geopolitical risk had largely disappeared. Inflation was eas... Read more
Stablecoin The Future Of Currency?
The payments system is undergoing a quiet but consequential shift. What was once the exclusive preserve of central banks... Read more
BoE Loosens Capital Rules
The Bank of England has taken a significant step towards easing post-crisis regulation by lowering its estimate of the c... Read more