Manganese Ore plans ventures in China, Kazakhstan

Public sector 'miniratna' company, Manganese Ore India (MOIL) is banking on its mining and marketing prowess to diversify into newer areas abroad and is exploring the possibilities of floating joint venture companies in China and Kazakhstan.

K L Mehrotraa, chairman cum managing director, MOIL said that the company intended to take up mining and manufacturing activities in these countries to be globally competitive.

The company has identified these two countries where its skills, temperament and capacity could be recognised.

MOIL is planning two joint ventures with a local company in China. One would take up mining of coal, manganese and other minerals.

The other would carry out value-addition in the minerals such as manufacturing ferro manganese or silica alloys.

A delegation from China is to visit India next month when the plans are expected to take shape.

An Indian delegation is visiting Kazakhstan in the same period. MOIL has found that the country has good deposits of various minerals, including gold and diamond.

MOIL expects to have a joint venture which would undertake mining work not just in Kazakhstan but the entire Russian federation.

The plans, however, are at a nascent stage at present. "We have identified where we have to go. We expect fruitful discussions when we go to Kazakhstan and the Chinese come to India next month," Mehrotraa said.