Sandur Manganese secures 5-Star Rating for 2 Mine Leases by Ministry of Mines; stock gains ~1%

13 Jul 2022 , 10:12 AM

Sandur Manganese & Iron Ores Limited informed that at the 6th National Conclave on Mines & Minerals held on July 12, 2022, in New Delhi, the Ministry of Mines, Government of India has awarded a 5-Star Rating to both the Mining Leases of the Company, for the year 2020-21.

Hon’ble Union Minister Prahlad Joshi, Ministry of Mines, Government of India, presented the award, which was accepted on behalf of the Company by Bahirji A. Ghorpade, Managing Director, and Uttam Kumar Bhageria, Chief Financial Officer for Mining Lease No. 2678, and by Md. Abdul Saleem, Director (Mines), and Shridhar Parameshwar Hedge, General Manager (Mines) for Mining Lease No. 2679.

The Company has received the 5-Star Rating award since its inception in 2014-15 by the Ministry of Mines, Government of India, and will continue to do so until 2020-21.

The 5 Star Rating Awards are based on the evaluation of various parameters of the India Bureau of Mines’ Sustainable Development Framework.

At around 10.16 AM, Sandur Manganese & Iron Ores was trading at Rs2,685 up by Rs10.6 or 0.4% from its previous closing of Rs2,674.40 on the BSE. The scrip opened at Rs2,700 and has touched intraday high and low of Rs2,750.05 and Rs2,673.05 respectively.