Sandur Manganese and Iron Ores Ltd. has got an approval for enhancement of Company’s Manganese Ore production limit to 0.254 Million Tonnes Per Annum (MTPA)
The Company’s Manganese Ore production limit has been enhanced to 0.254 Million Tonnes Per Annum (MTPA) which was hitherto reduced to 0.18 MTPA for FY16. Sandur Manganese and Iron Ores Ltd. (SMIORE) produced 151,289 MT of Manganese Ore in FY16, and contributed to 9% of India’s total production. Indian Manganese Ore production in FY16 was assessed at 2 MnT against 2.24 MnT in FY15, with a fall of over 10%.
MOIL, India’s state owned and largest manganese ore producer, reported a fall of 9.3% in manganese ore production in FY16. Production in last fiscal stood at 1.032 MnT against 1.139 MnT in FY15. MOIL holds around 50% of total manganese ore production in India.
Indian manganese ore production fell on account of low off take and poor demand from manganese alloy manufacturers, who struggled with over-capacity and low margins. Production in FY16 was also low on account of oversupply of the ore, because there were lots of unsold inventory of manganese alloys as well as manganese ore. Also, with China’s slowdown, lot of imported ore was diverted towards India, and offered at very attractive prices. This led to imports becoming cheaper amid ample supply of the material.
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