CNBC-TV18 has learnt that the Ministry of Environment and Forests (MoEF) has extended environment clearance given to Gujarat Mineral Development Corporation's (GMDC’s) Tadkeshwar mine.
The extension comes along with the permission to mine a little deeper. It could potentially increase the output coming in from this particular mine. The Tadkeshwar mine contributes around 15 percent of the company’s total volumes. So in value terms, it could be a little bit higher because the produce from here goes to high-value customers, especially those in the textile sector.
Also Read: GMDC: Will look at a dividend pay-out vs buyback
It could be a bit of a positive that they could get further output from this.
Watch the accompanying video of CNBC-TV18’s Nigel D’Souza for more details.
Catch all stock market updates here
The extension comes along with the permission to mine a little deeper. It could potentially increase the output coming in from this particular mine. The Tadkeshwar mine contributes around 15 percent of the company’s total volumes. So in value terms, it could be a little bit higher because the produce from here goes to high-value customers, especially those in the textile sector.
Also Read: GMDC: Will look at a dividend pay-out vs buyback
It could be a bit of a positive that they could get further output from this.
Watch the accompanying video of CNBC-TV18’s Nigel D’Souza for more details.
Catch all stock market updates here
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