MOIL and MPSMCL Form Joint Venture to Expand Manganese Ore Mining in Madhya Pradesh
State-owned MOIL Limited has incorporated a joint venture company — MOIL MPSMCL Mining Limited — with Madhya Pradesh State Mining Corporation Limited, with MOIL holding a 51 percent majority stake. The company will focus on manganese ore exploration and mining.
Public sector mining company MOIL Limited has formally incorporated a new joint venture entity in partnership with the Madhya Pradesh State Mining Corporation Limited (MPSMCL), advancing its expansion into manganese ore mining across the state. The new company, named MOIL MPSMCL Mining Limited, was incorporated on June 4, 2026, as confirmed by the Ministry of Corporate Affairs (MCA). MOIL has disclosed the development in a regulatory filing to the stock exchanges. The joint venture has been structured with MOIL as the majority partner, holding a 51 percent stake, while MPSMCL holds the remaining 49 percent. The entity has been incorporated through a cash subscription of 1,02,000 equity shares with a face value of Rs 10 each. The JV will focus on exploration and mining of manganese ore — a critical raw material for the steel industry. Both DIPAM (Department of Investment and Public Asset Management) and the Ministry of Steel have granted their approvals for the formation of this entity. MOIL is India's largest manganese ore producer and the partnership with the Madhya Pradesh state mining body is expected to unlock new reserves and strengthen the domestic supply chain for the mineral sector.
