GMDC's Surkha(N) Lignite Mine Receives Environmental Clearance for Capacity Expansion

Gujarat Mineral Development Corporation Ltd, one of India's leading mining Public Sector enterprises, announces the approval of the Environmental Clearance for the capacity expansion from 3 MTPA to 5 MTPA of Lignite for Surkha(N) Lignite Mine, by the Ministry of Environment, Forest, and Climate Change (MOEFCC).

The Surkha(N) Lignite Mine holds strategic importance for GMDC, representing a significant leap forward in the company's growth trajectory. This expansion not only signifies increased production but also aligns with GMDC's commitment to sustainability and responsible resource utilization.

Managing Director Roopwant Singh, IAS expressed, "The approval of Environmental Clearance for the capacity expansion of Surkha(N) Lignite Mine is a pivotal moment for GMDC. This project's success is integral to our overall growth and revenue generation perspective."

Taking a leap, with the engagement of two Turnkey Mining contracts at Surkha(N) Lignite Mine, GMDC sets to scaleup its production targets. The enhanced lignite production capacity is expected to drive substantial revenue growth for GMDC. As Gujarat's foremost mining entity, GMDC plays a crucial role in the state's economic landscape. The expansion of lignite production annually is poised to fuel the energy needs of industries across Saurashtra and Gujarat, fostering robust growth and development across various sectors within the state.

In conclusion, GMDC's Surkha(N) Lignite Mine's Environmental Clearance for capacity expansion, marks a significant milestone in the company's journey.

Shares of Gujarat Mineral Development Corporation Limited was last trading in BSE at Rs. 452.15 as compared to the previous close of Rs. 449.90. The total number of shares traded during the day was 282995 in over 5243 trades.

The stock hit an intraday high of Rs. 464.35 and intraday low of 448.35. The net turnover during the day was Rs. 129121717.00.

Source : Equity Bulls

Keywords

GujaratMineralDevelopmentCorporation INE131A01031 GMDCLTD Approval EnvironmentalClearance