Latest news with #MOIL
Zawya
14-05-2025
- Business
- Zawya
African Mining Week 2025 to spotlight the impact of Gabon's mining code
CAPE TOWN, South Africa,/ -- Gabon strives to expand the mining industry's GDP contribution to over 30% by the mid-2030s, using policies such as the Mining Code to attract investment and fuel development. By offering competitive incentives such as tax holidays ranging from three to eight years and a modest 3-5% royalty on base metals, the Mining Code offers improved terms for investors, thereby providing positive implications for the country's mineral sector. African Mining Week - Africa's premier gathering for African mining stakeholders, scheduled for October 1–3, 2025 in Cape Town – will provide an overview of Gabon's Mining Code. A dedicated panel discussion, titled Navigating Gabon's Mining Code: A Guide for Investors, will explore how the country is using the Mining Code to catalyze mining development and attract capital. Already the world's third-largest producer of manganese ( Gabon is leveraging the code to strengthen the sector though international partnerships and new investments. French mining major Eramet, operator of the high-grade Moanda Minesin Gabon, signed a manganese supply agreement with Australia's Firebird Metals ( to support electric vehicle (EV) battery production in China. Similarly, India's state-run MOIL ( is in talks to develop manganese assets in Gabon, highlighting the country's growing role in the global manganese, EV and battery storage market. Beyond manganese, Gabon is diversifying its mineral production base. Canadian company Millennial Potash Corp ( is advancing the Banio Potash Project, where high-grade potash intersections were confirmed in May 2025. Once operational, the project will be Gabon's first commercial potash facility, supplying a global market driven by demand for fertilizers and pharmaceutical applications. Iron ore is another growth frontier where the country is using the Mining Code to secure investment. In partnership with Australia's Genmin and China's Sinohydro ( the country is progressing the Baniaka Iron Ore Project, which targets five million tons of annual output initially, ramping up to 10 million tons in the future. Australia's Fortescue is also expanding its Belinga iron ore project while South Africa's Menar ( signed agreements to invest in the sector, illustrating growing investor confidence fostered by Gabon's Mining Code. Amid this growth, African Mining Week will connect investors, government officials and private sector leaders to advance projects. With a focus on legal clarity, resource potential and project-ready opportunities, the event will foster high-level dialogue and promote Gabon as a rising hub for responsible, high-return mining investment in Africa. Distributed by APO Group on behalf of Energy Capital & Power. About African Mining Week: African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@
Zawya
14-05-2025
- Business
- Zawya
African Mining Week (AMW) 2025 to Spotlight the Impact of Gabon's Mining Code
Gabon strives to expand the mining industry's GDP contribution to over 30% by the mid-2030s, using policies such as the Mining Code to attract investment and fuel development. By offering competitive incentives such as tax holidays ranging from three to eight years and a modest 3-5% royalty on base metals, the Mining Code offers improved terms for investors, thereby providing positive implications for the country's mineral sector. African Mining Week - Africa's premier gathering for African mining stakeholders, scheduled for October 1–3, 2025 in Cape Town – will provide an overview of Gabon's Mining Code. A dedicated panel discussion, titled Navigating Gabon's Mining Code: A Guide for Investors, will explore how the country is using the Mining Code to catalyze mining development and attract capital. Already the world's third-largest producer of manganese ( Gabon is leveraging the code to strengthen the sector though international partnerships and new investments. French mining major Eramet, operator of the high-grade Moanda Minesin Gabon, signed a manganese supply agreement with Australia's Firebird Metals ( to support electric vehicle (EV) battery production in China. Similarly, India's state-run MOIL ( is in talks to develop manganese assets in Gabon, highlighting the country's growing role in the global manganese, EV and battery storage market. Beyond manganese, Gabon is diversifying its mineral production base. Canadian company Millennial Potash Corp ( is advancing the Banio Potash Project, where high-grade potash intersections were confirmed in May 2025. Once operational, the project will be Gabon's first commercial potash facility, supplying a global market driven by demand for fertilizers and pharmaceutical applications. Iron ore is another growth frontier where the country is using the Mining Code to secure investment. In partnership with Australia's Genmin and China's Sinohydro ( the country is progressing the Baniaka Iron Ore Project, which targets five million tons of annual output initially, ramping up to 10 million tons in the future. Australia's Fortescue is also expanding its Belinga iron ore project while South Africa's Menar ( signed agreements to invest in the sector, illustrating growing investor confidence fostered by Gabon's Mining Code. Amid this growth, African Mining Week will connect investors, government officials and private sector leaders to advance projects. With a focus on legal clarity, resource potential and project-ready opportunities, the event will foster high-level dialogue and promote Gabon as a rising hub for responsible, high-return mining investment in Africa. Distributed by APO Group on behalf of Energy Capital&Power. About African Mining Week: African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@
United News of India
05-05-2025
- Business
- United News of India
MOIL April production touches record high
Kolkata, May 5 (UNI) MOIL produced a record 1.62 lakh tonnes of Manganese Ore in April, 2025-26, the Ministry of Steel has announced. MOIL's April production of Manganese Ore touched 1.62 lakh tonnes, registering a growth percentage of 1.5% over the corresponding year-ago period, the ministry said in a media release. A total of 11,453 metres of exploratory core drilling was completed during the month, representing a 58% increase compared to the previous year. MOIL CMD, Ajit Kumar Saxena, stated, "MOIL's April performance sets a positive tone for the year ahead. The organisation remains committed to sustained growth and value creation." UNI XC SSP ARN
Hans India
04-05-2025
- Business
- Hans India
MOIL kicks off FY 26 with highest-ever production of manganese ore in April
India's largest manganese ore producer, MOIL, in a strong start to the financial year 2025-26, has delivered its highest-ever April performance with the production of 1.62 lakh tonnes of ore, according to a statement issued by the Ministry of Steel on Sunday. The production of the ore in April represents a 1.5 per cent growth over the corresponding figure for the same month of the previous year. The government-owned company, which supplies manganese ore as an input for making steel, has also achieved its best ever exploratory core drilling of 11,453 metres, which is an impressive growth of 58 per cent over the corresponding figure for the same month last year. The miniratna PSU's Chairman and Managing Director Ajit Kumar Saxena said: "MOIL's April performance sets a positive tone for the year ahead. The organisation remains committed to sustained growth and value creation." MOIL reported a 27 per cent increase in consolidated net profit to Rs 115.7 crore for the January-March quarter of the financial year 2024-25, compared to Rs 91.1 crore in the corresponding quarter of the previous financial year. Revenue from operations during the quarter came in at Rs 433.4 crore, registering a 4.2 per cent increase from Rs 415.9 crore a year ago. Operational performance remained stable, with EBITDA rising 8.7 per cent on-year to Rs 139.4 crore. EBITDA margin expanded to 32.2 per cent from 30.9 per cent in the year-ago period, reflecting improved cost control and firm pricing. The MOIL Board has also approved the payment of an interim dividend of Rs 4.02 per share for the financial year 2024-25 during the declaration of the Q3 results. This represents a 15 per cent increase over last year's interim dividend of Rs 3.50 per share. Besides, the Board approved five shaft sinking projects, including two ventilation shafts for its Dongri Buzurg Mine, Chikla Mine, and Kandri Mine, worth Rs 886 crore (approximate). These shafts will help the company to sustain as well as increase its existing production level in the coming years.
Business Standard
02-05-2025
- Business
- Business Standard
Moil surges after Q4 PAT climbs 27% YoY to Rs 116 cr
Moil soared 11.26% to Rs 353.30 after the company's standalone net profit jumped 26.89% to Rs 115.65 crore in Q4 FY25 as compared with Rs 91.14 crore in Q4 FY24. Revenue from operations rose 4.21% to Rs 433.39 crore in Q4 FY25 as against Rs 415.87 crore in Q4 FY24. Profit before tax (PBT) increased 10.86% YoY to Rs 125.23 crore in Q4 FY25. On full year basis, the companys standalone net profit jumped 30.1% to Rs 381.63 crore on 9.35% rise in revenue from operations to Rs 1,584.94 crore in FY25 over FY24. Manganese Ore production stood at 18.03 lakh tonnes in FY25, registering the growth of 3% YoY. Manganese Ore sales were at 15.87 lakh tonnes in FY25, up 3.3% YoY. Ferro manganese sales hit a record 12,942 MT, recording the growth of 54% YoY. Meanwhile, the companys board recommended final dividend of Rs 1.61 per equity share of face value of Rs 10 each for FY25. MOIL is a Schedule A Miniratna Category-I Company. At present, the company operates its underground and opencast mines located in the Nagpur and Bhandara districts of Maharashtra and Balaghat district of Madhya Pradesh.
