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MOIL Fined ₹17 Crore for Exceeding Production Limit at Tirodi Mine

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Synopsis:

MOIL was fined ₹16.77 crore for exceeding production limits at Tirodi mine between 1993-96 and 2006-09. The company will appeal the decision. MOIL Ltd. share price dropped by 1.47%

MOIL Ltd. news today

State-owned Manganese Ore (India) Ltd (MOIL) was fined ₹16.77 crore by the Collector of Balaghat for exceeding production limits at the Tirodi mine. The penalty pertains to violations during the periods 1993-94 to 1995-96 and 2006-07 to 2008-09, where production exceeded the Environmental Clearance (EC) and Consent to Operate (CTO) limits.

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MOIL LIMITED

Trade

337.4-0.64 (-0.18 %)

Updated - 09 January 2025
356.50day high
DAY HIGH
333.25day low
DAY LOW
2018366
VOLUME (BSE)

Key Takeaways

  • Penalty Amount: ₹16.77 crore imposed by the Balaghat Collector.

  • Affected Periods: 1993-96 and 2006-09.

  • Impact on Operations: No effect on current operations.

  • Appeal Status: MOIL to appeal the penalty.

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MOIL revises manganese ore prices for January 2025

Despite the penalty, MOIL revised manganese ore prices, effective January 1, 2025. Ferro grades with Mn-44% and above saw a 1% price hike, while other ferro grades and silico manganese grades experienced a 5% increase. The basic price for electrolytic manganese dioxide (EMD) remains at ₹205,000 per metric tonne.

Manganese Ore Price Revisions

Grade

Price Change

Ferro grades (Mn-44%+)

1% increase

Ferro grades (Mn-44%-)

5% increase

Silico manganese grades

5% increase

EMD

No change (₹205,000 PMT)

MOIL Ltd. share price dips after news

Following the announcement of the penalty, the MOIL Ltd. share price fell by 1.47% to close at ₹338.25 on the BSE. The decline highlights investor sensitivity to regulatory and financial developments, though MOIL maintains its operational stability and focus on long-term growth.

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Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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