SVC Resources today acquired two mines in Madhya Pradesh. In a filing to the Bombay Stock Exchange, the company said that it is confident of exploiting the reserves to the full in the next three years.
One of the mines is located at Dhamki, Jabalpur district, measuring 2.07 acres through a definitive agreement. Tbe company said that the mine consists of laterite and has potentials of iron ore and manganese in it while the mineable reserve could be assessed at a minimum of Rs 10 crore.
Another mine is at Dilari, at Chhattarpur district, measuring 11.319 acres through a definitive agreement. The company said that this mine consists of white earth and ochre and has potentials of iron ore and manganese in it. The mineable reserve could be assessed at a minimum Rs 25 crore.
At BSE the shares of the company were trading at Rs 176.95 up 1.14 per cent from its previous close.