Prakash Industries Ltd finalized a mining lease for the Bhaskarpara commercial coal mine in Surajpur district, Chhattisgarh. The lease was executed by the Government of Chhattisgarh on November 21, 2024, and registered on November 22, 2024.
The mining rights for the Bhaskarpara coal mine have been granted for a duration of 30 years. Operational activities will begin with overburden removal next month, followed by coal extraction in the subsequent quarter. Coal from the mine will support Prakash Industries’ integrated steel operations by ensuring a steady supply and reducing operational costs. The Bhaskarpara coal mine project aims to enhance operational efficiency and financial performance for the company.
In the National Stock Exchange, shares of Prakash Industries Ltd is trading at ₹169.56 which is a 4.21% gain than the previous close. The stock has gained a total of 13% in the last one year, and a dip of 3.41% since the beginning of the year.
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