Ramco Cements' two mines conferred FIVE STAR award; Stock plunges 3%

Ramco Cements is the only company in the entire state of Tamil Nadu to receive this prestigious award for the year 2019-20.

Nov 26, 2021 12:11 IST India Infoline News Service

The two mines of Ramco Cements viz. Melavenkateswarapuram Limestone Mine, RR Nagar and Pudupalayam & Periyangalur Limestone Mine, Ariyalur were conferred the FIVE STAR award during the 56 National Conclave on Mines & Minerals, said company on Friday.

The conclave under the aegis of Ministry of Mines, Government of India and Indian Bureau of Mines was held on 23rd November 2021 at The Hotel Ashok, New Delhi.

1029 mines across the country had filed online self-assessment and were validated for FIVE STAR category award by Indian Bureau of Mines for the year 2019-20. Of this only 40 mines (various metals and minerals) were given FIVE STAR award.

The awards were presented by Hon. Prahlad Joshi, Minister of Coal & Mines & Parliamentary Affairs, Government of India. The award for Melavenkateswarapuram Limestone Mine, RR Nagar was received by S Ramalingam, SVP (Mfg) and P Jagadish Babu, General Manager (Mines).

The award for Pudupalayam & Periyangalur Limestone Mine, Ariyalur was received by Shri Madhusudhan Kulkarni, VP (Works) and G R Magesh, General Manager (Mines).

The award recognizes the contribution of various Mine Owners towards:
  • Carrying out scientific and systematic mining.
  • Progress on Progressive and Final mine closure.
  • Addressing of resettlement and rehabilitation issues, local community engagements and welfare programs.
  • Implementation of green energy source, cleanliness drive and mining software.
  • Reporting processes as per international standards.
  • Taking all necessary precautions for undertaking sustainable mining and monitor mining and allied activities as per notified template of STAR rating in the prescribed format issued by IBM.
The Pudupalayam & Periyangalur Limestone Mine, Ariyalur had earlier won the award in 2017-18 & 2018-19.

Ramco Cements is the only company in the entire state of Tamil Nadu to receive this prestigious award for the year 2019-20.

On Sensex, at around 12:40 PM, The Ramco Cements was trading at Rs960.15 apiece down by Rs30.15 or 3.04% on the BSE.

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