Maharashtra clears 937 hectares for Gadchiroli steel expansion Steel stock surges 29% in just two days Steel output rises 14% to 9.25 MT Infrastructure boom fuels India’s steel consumption
The Steel Ministry has granted in-principle approval to the proposed joint venture between MOIL Ltd. and the Madhya Pradesh government for manganese ore mining. This key development marks a strategic collaboration aimed at boosting domestic mineral production and strengthening India’s raw material security.
The joint venture, between state-run miner MOIL and the MP State Mining Corporation, is expected to unlock new mining zones rich in manganese — a critical alloying element for steelmaking. Once fully approved, the JV will focus on exploration, extraction, and production, further supporting the government's Atmanirbhar Bharat mission.
With the initial green signal secured, both parties now await final clearance from the appropriate authorities to commence operations. Industry experts view this move as a significant step toward ensuring long-term resource availability for the steel sector, which continues to expand rapidly on the back of infrastructure growth and industrial demand.This venture is also expected to create job opportunities, attract investment, and promote technological collaboration in India’s mining landscape. It highlights the government's commitment to fostering strategic partnerships in key resource sectors.
Also Read : India’s Steel Demand Set for Double-Digit Growth in H2: Naveen Jindal Vibhor Steel Starts Odisha Plant, Targets Margin Growth
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