The Government of India has approved a proposal to establish a joint venture between Indian Miner MOIL Limited and Madhya Pradesh State Mining Corporation Limited (MPSMCL) to implement manganese mining projects in Madhya Pradesh, a representative of the Government of India said on Tuesday, February 3.
A joint venture between MOIL and the mining division of the Madhya Pradesh state government plans to implement manganese ore mining projects in the state and build value-added facilities, the official said.
According to the joint venture agreement submitted to the Ministry of Steel, Moil Limited will own 51 percent of the company's shares, and the balance sheet will belong to MPSMCL.
Moil Limited concluded a draft joint venture agreement with MPSMCL in October 2024.
