AC Choksi Share Brokers Private Limited

More documents

Recommendations

Info

A C ChoksiShare Brokers Private LimitedA C Choksi Institutional Research |Initiation Report|MINING MOILApril 26, 2011sMine SnapsMOIL’s mining operations include 10 manganese ore mines, 6 of which are located inthe Nagpur and Bhandara districts of Maharashtra ( Kandri, Munsar, Beldongri,Gumgaon, Dongri Buzurg and Chikla mines) and 4 of which are located in theBalaghat district of Madhya Pradesh (Balaghat, Sitapatore, Tirodi and Ukwa mines).Exhibit 43 -Vertical Shaft at Balaghat MineBalaghat MineThe Balaghat mine, the largest ofall its mines, is an undergroundmine located in the Balaghatdistrict in the state of Madhya Pradesh.Exhibit 44-Ferro Manganese Plant at Balaghat MineThe annual production (% share) atBalaghat were 300,051 MT (22.0%),284,563 MT ( 24.2%) , 300,000 MT(27.4%) and 151,452 MT ( 29.3%) ofmanganese ore ( average grade of 40.0%)in FY08, FY09, FY10 and HY11respectively. The manganese oreproduced from the mine is primarilysold to ferro alloy producers.To meet higher demand, th e companyhas taken up initiative to deepen thevertical shaft. The expected cost is` 65.1 mn.The company has outlined` 190 mn & `3000 mn fordeepening of Holm's Shaft andHigh speed shaft for mining at deeperlevels at Balaghat mine. The potentialbenefit as evaluated by the companycould be an increase in run - of - mine(ROM) production from 340,000 MTto 475,000 MT. The expected completiondate as indicated by the company isMarch, 2015 & 2016.Source: RHP, A C Choksi Institutional Research_____________________________________________________________________________________A C Choksi Institutional Researchresearch@acchoksi.com 32
A C ChoksiShare Brokers Private LimitedA C Choksi Institutional Research |Initiation Report|MINING MOILApril 26, 2011sExhibit 45-EMD Plant at Dongri Buzurg MineDongri Buzurg MineExhibit 47-Dongri Buzurg mine at NightThe Dongri Buzurg mine, the 2ndlargest mine is the only fullymechanized open cast mine locatedin the Bhandara district in the state ofMaharashtra.Exhibit 46-Open Cast Mine at Dongri BuzurgThe annual production (% share)were 345,572 MT (25.3%),300,101 MT ( 25.5% ) , 282,758 MT(25.9%) and 115,328 MT ( 22.3%)of manganese ore ( average gradeof 42.0%) in FY08, FY09, FY10and HY11 respectively. Themanganese ore produced fromthe mine is sold to the chemicalindustry ferro alloy producers.To increase ROM productionfrom 350,000 MT to 560,000 MT, thecompany has plans to develop theopencast mine. It has earmarked` ? 1800 mn for the project. Theexpected completion date as indicatedby the company is March, 2014.Source: MOIL Ltd, RHP, A C Choksi Institutional Research_____________________________________________________________________________________A C Choksi Institutional Researchresearch@acchoksi.com 33
Page 1 and 2: A C ChoksiShare Brokers Private Lim
Page 7: A C ChoksiShare Brokers Private Lim

AC Choksi Share Brokers Private Limited

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?