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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%
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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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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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.
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) |
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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