Sharemasterindia.com: Adhunik Metaliks shares surged nearly 20 per cent on Wednesday after its
wholly owned subsidiary of the company was granted extension of lease
for its three manganese ore mines.
Orissa Manganese & Minerals Limited, a subsidiary of Adhunik Metaliks, has been granted extension of lease for three manganese ore mines (Patmunda, Orahuri & Kusumudhi) till March 31, 2020, under merchant category, the company said in a statement to the BSE.
The requisite stamp duty and registration charges have already been deposited to the Odisha government, Adhunik Metaliks said, adding that Patmunda mine has already re-started operation
.
Orissa Manganese & Minerals has requested the government to extent the lease of these mines for further 10 years under captive clause, it added.
At 11:19 a.m., shares of Adhunik Metaliks were up 19.75 per cent at Rs 18.80 as compared to a 0.75 per cent gain in Nifty.
Orissa Manganese & Minerals Limited, a subsidiary of Adhunik Metaliks, has been granted extension of lease for three manganese ore mines (Patmunda, Orahuri & Kusumudhi) till March 31, 2020, under merchant category, the company said in a statement to the BSE.
The requisite stamp duty and registration charges have already been deposited to the Odisha government, Adhunik Metaliks said, adding that Patmunda mine has already re-started operation
.
Orissa Manganese & Minerals has requested the government to extent the lease of these mines for further 10 years under captive clause, it added.
At 11:19 a.m., shares of Adhunik Metaliks were up 19.75 per cent at Rs 18.80 as compared to a 0.75 per cent gain in Nifty.
