The Sandur Manganese & Iron Ores Ltd gets approval for enhancement of Manganese Ore production

The Central Empowered Committee (CEC) constituted by the Hon'ble Supreme Court of India, has granted approval today, for enhancing the Company's Mn Ore production from 2.86 lakh tonnes to 5.82 lakh tonnes (5.50 lakh tonnes in Mining Lease No.2678 and 0.32 lakh tonnes in Mining Lease No.2679). The CEC has granted approval after examining in detail the recommendations of the Technical Committee of the Government of Karnataka and the report of the Indian Council of Forestry Research & Education (ICFRE), Ministry of Environment, Forest & Climate Change (MoEF&CC) and keeping in view the Hon'ble Supreme Court's order dated 13 April 2012 and the Judgements dated 18 April 2013 and 14 December 2017 of the Hon'ble Supreme Court.

It may be noted that the Company is expected to receive Consent for Operation from the Karnataka State Pollution Board and approval from the Monitoring Committee constituted by the Hon'ble Supreme Court in due course of time and plans to start the operations at enhanced level of production from the next financial year.

Shares of SANDUR MANGANESE & IRON ORES LTD. was last trading in BSE at Rs. 877.95 as compared to the previous close of Rs. 885.15. The total number of shares traded during the day was 9384 in over 882 trades.

The stock hit an intraday high of Rs. 889.80 and intraday low of 873.10. The net turnover during the day was Rs. 8246328.00.

Source : Equity Bulls

Keywords

SANDURMANGANESEandIRONORES INE149K01016 Mining ProductionEnhancement ManganeseOre