Date | Feb 23, 2015: Godawari Power and Ispat said the Centre has given its final approval for diversion of surplus forest land for iron ore mining in Chhattisgarh.
"Ministry of Environment and Forests has granted its final approval for diversion of additional forest land for iron ore mining in the Baster district of Chhattisgarh, adjacent to the company's existing Ari Dongri iron ore mines," Godawari Power and Ispat said in a regulatory filing to the stock exchanges.
Upon execution of mining lease and commencement of operation in the additional land, the total mining lease area of Ari Dongri iron ore mines will get expanded.
The production capacity will be enhanced from 0.7 million tonnes per annum (MTPA) to 1.405 MTPA, which is expected to be executed within next 2-3 months.
Post commencement of commercial operation in enhanced mining area, the entire requirement of iron ore of the company shall be met from captive iron ore mines leading to cost savings, the company said.
As per information on the company's website, Godawari Power and Ispat is a public limited company belonging to HIRA Group of Industries.
It was incorporated in 1999 to set up an integrated steel plant with captive power generation.
(Source: http://profit.ndtv.com/)