MOIL Enters Joint Venture with MP State Mining Corporation for Manganese Ore Mining – Indian PSU
State-owned manganese producer MOIL Limited has incorporated a joint venture company with Madhya Pradesh State Mining Corporation Limited (MPSMCL), marking a strategic step towards expanding manganese ore mining operations in Madhya Pradesh.
The new entity, MOIL MPSMCL Mining Limited, has been established to pursue manganese ore mining opportunities in the state, with MOIL holding a majority stake of 51% and MPSMCL owning the remaining 49%. The joint venture follows the execution of an agreement between the two entities and the requisite approvals from the Department of Investment and Public Asset Management (DIPAM) and the Ministry of Steel. <Cite refs={[“turn834238search0″,”turn834238search7”]}/>
MOIL to Hold 51% Stake in Joint Venture
The joint venture company issued 1,02,000 equity shares of ₹10 each on August 1, 2026, with the shareholding structured to give MOIL management control through its 51% stake. MPSMCL holds the remaining 49%.
The partnership brings together MOIL’s manganese mining expertise and the Madhya Pradesh government’s mining-sector presence to develop the state’s manganese resources. <Cite refs={[“turn834238search0″,”turn834238search5”]}/>
Expansion Beyond Traditional Mining Operations
The joint venture is part of MOIL’s broader strategy to expand its mining footprint beyond its established operations. The company has been exploring opportunities in other states to strengthen its resource base, increase manganese ore production and pursue value-addition projects.
MOIL and MPSMCL had signed a draft joint venture agreement at the MP Mining Conclave in Bhopal on October 18, 2024, in the presence of Madhya Pradesh Chief Minister Mohan Yadav and senior officials. The agreement envisaged a 51:49 ownership structure in favour of MOIL. <Cite refs={[“turn834238search4″,”turn834238search7”]}/>
Focus on Madhya Pradesh’s Manganese Resources
Madhya Pradesh offers opportunities for manganese exploration and mining, and the joint venture is intended to facilitate the development of these resources. The collaboration is also expected to support economic activity and create employment opportunities as projects move towards implementation.
The incorporation of MOIL MPSMCL Mining Limited establishes the corporate framework for the partnership. The pace and scale of mining activity will depend on the development of identified resources, project planning and operational clearances.
For MOIL, the venture represents another step in its efforts to expand its resource base and strengthen its position in India’s manganese mining sector.
