Bhopal- In a move set to bolster manganese ore mining and value-addition projects in Madhya Pradesh, Manganese Ore (India) Limited (MOIL) signed a draft joint venture agreement with Madhya Pradesh State Mining Corporation Limited (MPSMCL) at the MP Mining Conclave'24 held in Bhopal.

The agreement, formalized in the presence of Madhya Pradesh Chief Minister Dr. Mohan Yadav and other dignitaries, will see the formation of a new joint venture company. MOIL will hold a 51% stake in the company, while MPSMCL will contribute 49%.

This strategic partnership aims to leverage the rich manganese ore reserves in Madhya Pradesh, promoting economic growth and generating employment opportunities in the region. The collaboration aligns with the national vision of "Atma Nirbhar Bharat" (Self-Reliant India).

Ajit Kumar Saxena, MOIL's CMD, and Shri M.M. Abdulla, Director (Production and Planning) of MOIL, were among the key representatives present at the signing ceremony.