The company has proposed a production capacity of up to 0.30 million tonnes per annum, with the development phase expected to span four years. The necessary agreements for the project will be executed in due course. Shares of Lloyds Metals And Energy Ltd ended at ₹1,402.00, up by ₹22.70, or 1.65%, on the BSE.
The company has proposed a production capacity of up to 0.30 million tonnes per annum, with the development phase expected to span four years. The necessary agreements for the project will be executed in due course. Shares of Lloyds Metals And Energy Ltd ended at ₹1,402.00, up by ₹22.70, or 1.65%, on the BSE.
The mine, located on the Madhya Pradesh–Maharashtra border about 400 kilometers from Ghugus, covers an area of around 338 hectares and holds estimated total reserves of 23 million metric tonnes (MMT). It will be developed using a combination of opencast and underground mining methods.
The company has proposed a production capacity of up to 0.30 million tonnes per annum, with the development phase expected to span four years. The necessary agreements for the project will be executed in due course.
Also Read: Lloyds Metals’ operational gains push stock to new 52-week high
In June this year, Lloyds Metals & Energy said it had received environmental clearance to expand its iron ore mining capacity to 55 million tonne per annum (MTPA). The stock has gained as much as 2% in response.
“The expansion is poised to play a strategic role in the emerging steel industry in Gadchiroli, as the region witnesses a growing presence of companies venturing into steel production. LMEL’s mine will act as a foundational enabler for these downstream industries,” the company said.
Lloyds Metals said the mine will support cost-effective and sustainable steel production, ensuring long-term ore security for both captive use and potential external supply. The expansion will also enhance the company’s plans for pellet and steel making.
Also Read: Lloyds Metals gets environmental clearance for 2 mega projects in Maharashtra
Availability of in-house iron ore will significantly improve cost structures and contribute meaningfully to the company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) margin, it said.
Shares of Lloyds Metals And Energy Ltd ended at ₹1,402.00, up by ₹22.70, or 1.65%, on the BSE.
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