MOIL Limited, a schedule-A, Miniratna Category-1 CPSE under the administrative control of Ministry of Steel, Government of India, had signed Memorandum of Understanding (MoU) in January 2019 with Gujarat Mineral Development Corporation Ltd. (GMDC), an undertaking of Government of Gujarat, to take up project of joint exploration of manganese bearing areas, exploring its feasibility and to conduct mining operations

as well as to set up value addition plant in joint venture in Gujarat.

 

Going ahead in the matter, on Tuesday MOIL has signed a detailed MoU with Gujarat Mineral Development Corporation Ltd for joint exploration, etc., to take up the above project. JVC will have shareholding pattern of 51 per cent and 49 per cent for MOIL and GMDC respectively. In this connection, MOIL and Gujarat Mineral Development Corporation Ltd have signed MoU with Mineral Exploration Corporation Limited (MECL), a Miniratna Category-I CPSE under the Ministry of Mines, Government of India for exploration related activities to be carried out

in the manganese mineral acreage to establish resources / reserves.

 

Based on results of exploration and feasibility of mining ascertained after exploration activities, decision to go ahead with mine development, mining activities and establishment of downstream derivative plants with an expected investment of Rs 250 erore shall be taken.