Sandur Manganese & Iron Ores has received Environmental Clearance (EC) from the Ministry of Environment, Forest, and Climate Change (MoEFCC) for its Ramghad Manganese & Iron Ore Mines.
The EC permits the production of 0.216 million tonnes per annum (MTPA) of iron ore from the Ramghad mine, while manganese ore production will remain at 0.05 MTPA. Total excavation, including waste, is capped at 1.297 MTPA. The clearance also authorizes the handling of 0.327 MT of previously stored incidental iron ore within the first two years.
Sandur Manganese & Iron Ores, a key entity of the Karnataka-based Sandur Group, operates in the Hosapete-Ballari region of Karnataka. The company mines low-phosphorous manganese and iron ore and produces Ferro-alloys (silico-manganese) at its Vyasankare plant near Hospet.
In Q3 FY24, the company’s consolidated net profit plummeted 78.10% to Rs 9.07 crore, with sales dropping 60.55% to Rs 153.02 crore compared to Q3 FY23.
The stock has decreased by 3.21%, trading at Rs 490.85 on the BSE.
