NALCO executes Pottangi Bauxite Mining Lease deed with the State Government of Odisha

NALCO has executed a Mining Lease deed with the State Government of Odisha today i.e. 13.06.2024 over an area of 697.979 hectares for Bauxite Mines in Pottangi Tehsil, Koraput District. The mines has an annual production capacity of 3.5 million tonnes and has reserves estimated at 111 million tonnes, projecting a mine life of 32 years. Upon obtaining the remaining requisite statutory clearances, the mine is expected to become operational soon. The mined Bauxite would be transported to NALCO Refinery at Damanjodi through an Overland Conveyor of 18.5 Kms.

This strategic move ensures a secure supply of raw material for NALCO's existing Refinery and supports future expansions. With this enhanced resource base, NALCO is poised to strengthen its position in the Aluminum Industry, optimize production efficiency and meet the growing demand for Aluminum domestically and internationally.

Shares of National Aluminium Company Limited was last trading in BSE at Rs. 186.50 as compared to the previous close of Rs. 184.90. The total number of shares traded during the day was 360418 in over 2792 trades.

The stock hit an intraday high of Rs. 187.45 and intraday low of 184.00. The net turnover during the day was Rs. 67008002.00.

Source : Equity Bulls

Keywords

NationalAluminiumCompany INE139A01034 NALCO PottangiBauxiteMine LeaseDeed OdishaGovernment