Resurgere Mines & Minerals has received an approval to enter into a long term extraction and selling agreement of iron ore mine at Galel Village, Sindhudurg District in Maharashtra, admeasuring 55 hectares and the estimated reserves are 43 million tonnes on an open cast mine. With this the company's reserve of iron ore has gone up to 94.26 million tonnes. The company has received an approval at its board meeting held on August 04, 2011.
The company has also finalized to enter into a long term extraction and selling agreement of a Coal Mine at Namsang, Nagaland, and the estimated reserves are 1.5 million tonnes.
Further, Resurgere Mines & Minerals had started operations at the Maharajpur mines in 2005 under long term contract. The Company has received communication from lease holder dated August 03, 2011 mentioning that compiling with term of reference (TOR) received by him from Ministry of Environment & Forest for renewal of Maharajpur mines would not be possible and has asked the company to stop its mining activities immediately. The board has discussed and decided to cease its mining operations at Maharajapur mines with immediate effect.
Resurgere Mines & Minerals is presently engaged in the business of extraction and processing of iron ore products i.e., lump ore and size ore, and is predominantly a manufacturer of calibrated lump ore (CLO) and iron ore fines. The company is also engaged into merchant export of iron ore fines to China.
Company Name | CMP |
---|---|
Coal India | 487.40 |
NMDC | 267.50 |
GMDC | 401.75 |
Sandur Manganese | 540.50 |
MOIL | 531.60 |
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