Sunflag Iron and Steel Company Limited gets mining lease for Bajna Iron Ore Block

Sunflag Iron and Steel Company Limited has received on 21st November, 2022, Letter of Intent no. 4157/809910/2022/12/1 dated 07th November, 2022 issued by the Mineral Resource Department, Government of Madhya Pradesh under sub-rule (2) of rule 10 of Mineral (Auction) Rules, 2015 and Mines and Minerals (Development and Regulation) Act, 1957(‘Act’), for grant of mining lease to the Company for Bajna Iron Ore Block for Iron Ore and Manganese Ore in Bajna Village, Baxwaha Taluka, Chhatarpur District on 96.000 Hectare Area for a period of 50 (fifty) years.

This Letter of Intent and the subsequent grant of aforementioned mining lease shall be subject to the provisions of the Mines and Minerals (Development and Regulation) Act, 1957 (“Act”) and the Rules made there under, as amended from time to time, and that the Company shall be designated as the 'Successful Bidder’ and subsequently granted the mining lease only upon satisfactory completion of all the requirements under the Act and the Rules made there under.

Shares of Sunflag Iron And Steel Company Limited was last trading in BSE at Rs. 86.30 as compared to the previous close of Rs. 86.70. The total number of shares traded during the day was 10603 in over 292 trades.

The stock hit an intraday high of Rs. 88.00 and intraday low of 86.00. The net turnover during the day was Rs. 918195.00.

Source : Equity Bulls

Keywords

SunflagIronAndSteelCompany INE947A01014 MiningLease IronOreBlock ManganeseOre Bajna