Manganese Ore India
Limited (MOIL) is planning to start with coal mining and it may give some competition
to Coal India Limited (CIL). MOIL is also
planning to bid for coal blocks to become a serious contender and is looking
for reserves which would last for a minimum of 20 years.
“Why should the
company stick to just one commodity only because it is a PSU. A change in
strategy to ensure better profits is needed after shares are offered to the
public,” the source said. Mining may be done by tying up with a private
entity.
“MOIL in a joint
venture with Steel Authority of India Limited (SAIL) and Rashtriya Ispat
Limited (RIL) which also require coal, is coming up with a Ferro Alloy plant.
However, basically coal mining is being taken as a move to enter markets rather
the self use,” said a senior official.
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