Environment Ministry gives approval to GMDC's Tadkeshwar Lignite Mines, Surat to mine upto the depth of 135 meters

Gujarat Mineral Development Corporation (GMDC), a leading mining PSU enterprise and largest lignite seller in the country, has received an amendment to its environment clearance from the Ministry of Environment and Forest to mine up to a depth of 135 meters from its earlier approved depth of 94 meters at the Tadkeshwar, Lignite Mines.

Commenting on the approval granted by the ministry, Mr. Roopwant Singh, Managing Director, GMDC said "The Lignite Mines in Tadkeshwar is strategically located in Surat, a large industrial belt. We have mined 0.68 mn MT of Lignite from the Tadkeshwar mines in 9MFY22 against 0.53 mn MT in 9MFY21. This is indeed a good development and will help us cater to the constantly increasing demand-supply gap and the energy requirements in the state and across the country."

"For FY21-22, we had a production target of 86.63 lakh MT and we have achieved 65.64 lakh MT till 23/1/2022. During the year 2021-22, lignite production at Bhavnagar mines achieved was 12.86 lakh MT, an increase of 7.92 lakh MT, as against 4.94 Lakh MT in 2020-21" added Mr. Roopwant Singh.

Shares of Gujarat Mineral Development Corporation Limited was last trading in BSE at Rs. 135.30 as compared to the previous close of Rs. 140.05. The total number of shares traded during the day was 316134 in over 4677 trades.

The stock hit an intraday high of Rs. 142.40 and intraday low of 134.35. The net turnover during the day was Rs. 43736363.00.

Source : Equity Bulls

Keywords

GujaratMineralDevelopmentCorporation INE131A01031 GMDC LignitMines EnvironmentClearance Tadkeshwar