Manganese Ore India, which aims to raise its production level to 2.2 million tonne by 2020, plans to invest Rs 1,200 crore in a phased manner to meet the target.
This was informed by GP Kundargi, Chairman and Managing Director of the firm. The firm plans to join hands with Steel Authority of India (SAIL) and Rashtriya Ispat Nigam (RINL) for production of ferro manganese and silico manganese. Through this joint venture, the firm plans to set up ferro alloy plants at Bhilai and Vizag.
Speaking to reporters, Kundargi said the firm supplies 42 per cent of the total requirement of ore in the country, and 75 per cent of it is high grade ore. It is estimated that India holds about 20 per cent of Manganese Ore reserves of the world, he said, adding that while South Africa occupies top position globally and caters to 80 per cent requirement, India is ranked 7th.
Kundargi said the company has set up 1,000-tonne capacity Electrolytic Manganese Dioxide (EMD) plant which is doing well, although demand for battery (cell) manufacturing companies have dropped considerably.
As part of its global expansion plan,that MOIL and National Minerals Development Corporation (NMDC) invited expression of interest for Manganese ore and other minerals. It has initiated plans for acquiring mining properties in other countries like South Africa, Brazil and Australia.