Godawari Power and Ispat Ltd announces partial impact of mining at Ari Dongri iron ore mines

Godawari Power and Ispat Ltd has announced that an overburden dump at Company's Ari Dongri Iron Ore Mines has collapsed partially and the same has resulted into partial impact on the iron ore mining operations at the said mines. The Company is taking necessary measures to prevent the damage and resume the mining operations at full capacity, as soon as possible. Mining operations at low volumes shall continue till further notice. However, the same will not have any negative impact on the production of iron ore Pellets, as the Company is having sufficient inventory of iron ore at plant level for few weeks.

There is no loss of life of any of the person working at mines, and also no damage has caused to any of the mining equipment. The Company has reported the matter to Director General of Mines and suitable actions shall be initiated at mines as per directions of the Director General of Mines.

The exact impact on the mining operations and consequent impact on profitability carmot be ascertained at this stage.

Source : Equity Bulls

Keywords

GoadawariPowerandIspat GPIL AriDongriIronOreMines OverburdenDumpCollapse PartialImpact