Breaking News

You are here » Indian-Commodity  :  Top News  :  MOIL signs MoU with GMDC

19-Jan2019

MOIL signs MoU with GMDC

MOIL has signed a Memorandum of Understanding (MoU) with Gujarat Mineral Development Corporation (GMDC) to take up project of joint exploration of manganese-bearing areas, exploring its feasibility and to conduct mining operations as well as to set up value additional plant in joint venture at Vadodara and Chhota Udepur (Gujarat) with a proposed investment of around Rs 250 crore. The company is proposed to commence activities of exploration on this project in 2019.

MOIL is the largest iron ore company in India and fifth largest in world. It currently operates seven underground mines (Kandri, Munsar, Beldongri, Gumgaon, Chikla, Balaghat and Ukwa mines) and three opencast mines (Dongri Buzurg, Sitapatore/Sukli, and Tirodi).


Related News

View all news

Gold futures edge higher on Monday

Gold futures edged higher on Monday, despite a firm dollar followed by reports of better than expected economic growth of US. However, investments were almost muted after the long Easter weekend.Gold futures......

Physical rubber prices ruled steady on Saturday

Physical Rubber prices ruled steady on Saturday. Spot prices for RSS-4 and RSS-5 variety closed unchanged at Rs 128/ kg and Rs 125/ kg respectively.In the futures market, May delivery gained to Rs 129.89......

Jeera futures trade lower on easing demand

Jeera futures traded lower on NCDEX on account of easing demand from retailers and industrial buyers at the spot market. Further, ample stocks position following higher supplies from the producing belts......

Top News

View all news

Bank of Baroda's board to consider issuance of equity shares of Rs 5,042 crore to Govt

Bank of Baroda's board is going to consider issuance of equity shares of Rs 5,042 crore to Government of India on a Preferential Basis. The meeting of the Board of Directors of the Bank is scheduled to......

Gujarat Petrosynthese to invest surplus funds in mutual funds, bonds, securities, shares

Gujarat Petrosynthese has received an approval to invest surplus funds in mutual funds, bonds, securities, shares, inter corporate deposits etc. to optimize its returns. The Board of Directors of the Company......

Reliance's Retail Unit delivers record-breaking performance in revenue, profits during FY19

Reliance Industries' Retail Unit--Reliance Retail has delivered a record-breaking performance in revenue and profits growth for the year 2018-19. Segment Revenue for FY19 grew by 88.7% Y-o-Y to Rs 130,566......