New Delhi | Sep 1, 2016: Manganese miner MOIL today said Mukund P Chaudhari has been appointed its Chairman and Managing Director (CMD).

"Gururaj P Kundargi... has ceased to be the CMD on the Board of the company on attaining the age of superannuation on August 31, 2016," the state-run company said in a regulatory filing.

"Mukund P Chaudhari, who is presently working as Director (Finance), has been appointed as CMD of the company by the Steel Ministry," it added.

Chaudhari has been appointed for a period of five years from the date of assumption of charge on or after September 1, 2016, or till the date of his superannuation, or until further orders, whichever is the earliest, it said.

The public sector undertaking recently said that it will increase production of manganese ore to up to 2.5 million tonnes by 2020-21.

Manganese Ore India Ltd (MOIL) is the largest producer of manganese ore in the country with an annual production of 1.1 million tonnes (MT).

It is planning to increase the number of mines in central India by 2020-24 which will help it to increase production.

MOIL operates about 10 mines -- six in Maharashtra and four in Madhya Pradesh. Balaghat Mine is the largest mine of the company which produces one of the best quality of manganese ore in the country and is also the deepest underground manganese mine in Asia.

(Source: http://indiatoday.intoday.in/)