Sail has closed at Rs 187, higher by nearly a Re or 0.5%, on the BSE.
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(updated at 1050 am)
Sail is quoting at Rs 189, higher by Rs 2.6 or 1.4%, on the BSE.
The Jharkhand government has agreed to renew Sail's Buddhaburu lease — part of the Chiria iron ore belt — having reserves of 810 million tonnes. Chiria is Asia’s largest iron ore belt, with two billion tonnes of reserves.
Moreover, a memorandum of understanding was signed between the state-owned mining company NMDC and Steel Authority of India (SAIL) to jointly develop a limestone project at Arki in Himachal Pradesh with a three-million tonne per annum capacity.