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The approval was given by the Ministry of Environment, Forest, and Climate Change (MOEFCC).
The state-owned miner stated that the enhanced lignite production capacity is expected to drive substantial revenue growth. The expansion of lignite production annually is poised to fuel the energy needs of industries across Saurashtra and Gujarat, fostering robust growth and development across various sectors within the state.
Managing Director Roopwant Singh, IAS said, “The approval of Environmental Clearance for the capacity expansion of Surkha(N) Lignite Mine is a pivotal moment for GMDC. This project's success is integral to our overall growth and revenue generation perspective.”
GMDC is one of the public sector enterprises of the GoG, primarily engaged in mining and marketing of industrial minerals in the state. It has more than six decades of experience in the mining & minerals sector. GMDC is the leaders in exploring and exploiting lignite, Bauxite, Fluorspar, Manganese, Silica Sand, Limestone, Bentonite and Ball Clay.
The company's consolidated net profit tumbled 50.7% to Rs 74.59 crore on 29% decline in net sales to Rs 382.74 crore in Q2 FY24 as compared with Q2 FY23.
The scrip hit a record high at Rs 502.15 in today’s intraday session.
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