Sandur Manganese & Iron Ores announced that the Ministry of Environment, Forest, and Climate Change (MoEFCC) has granted Environmental Clearance (EC) for its Ramghad Manganese & Iron Ore Mines.
The EC permits iron ore production of 0.216 million tonnes per annum (MTPA) from the Ramghad mine. Existing manganese ore production of 0.05 MTPA will remain unchanged, with a total excavation of 1.297 MTPA including waste.
Additionally, the EC allows for the handling of 0.327 MT of previously stocked incidental iron ore within the first two years.
Sandur Manganese & Iron Ores is the flagship company of the Karnataka-based Sandur Group. It is involved in mining of low phosphorous manganese and iron ore in the Hosapete-Ballari region of Karnataka. It also manufactures ferro-alloys (silico-manganese) at its plant in Vyasankare, near Hospet.
The company's consolidated net profit declined 78.10% to Rs 9.07 crore on a 60.55% fall in sales to Rs 153.02 crore in Q3 FY24 over Q3 FY23.
The scrip slipped 3.21% to currently trade at Rs 490.85 on the BSE.
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