MOIL-MP Mining JV Gets In-Principle Steel Ministry Nod, DIPAM Clearance Pending

• State-owned MOIL received in-principle approval from the Ministry of Steel for its joint venture with Madhya Pradesh State Mining Corporation Limited (MPSMCL).
• The approval is for the formation of a JV company, pending final clearance from the Department of Investment and Public Asset Management (DIPAM).
• MOIL and MPSMCL signed a draft JV agreement in October 2024 to advance manganese ore mining and value-addition projects in Madhya Pradesh.
• The JV company will have MOIL holding 51% share and MPSMCL holding 49%.
• This partnership aims to develop Madhya Pradesh's manganese ore reserves, boost economic growth, and create jobs.

Why It Matters: MOIL's mining JV with MPSMCL received initial Steel Ministry approval, awaiting final DIPAM clearance.