Sandur Manganese and Iron Ores recently experienced a rise in its stock value following the announcement of receiving approval from the Karnataka State Pollution Control Board to increase its manganese ore production capacity. This approval, granted under the Air and Water Act, allows the company to enhance its production from 0.43 MTPA to 0.55 MTPA at its mining lease located in the Hosapete Ballari region of Karnataka.
In a stock exchange filing, the company disclosed that the KSPCB's approval now permits them to boost their production levels and they will present all necessary approvals before the Monitoring Committee set up by the Hon’ble Supreme Court. Additionally, the company's board of directors approved a proposal to raise up to Rs 1,000 crore through qualified institutions placement to further support its operations.
Established in 1954 by Murarirao Yeshwantrao Ghorpade, Sandur Manganese and Iron Ores Limited is a key player in the mining of manganese and iron ore in India. Operating in Karnataka, the company engages in semi-mechanised manganese ore mining and fully mechanised iron ore mining in the region. Besides mining, Sandur Manganese also manufactures various ferroalloys like ferromanganese, ferrosilicon, silicomanganese, and ferrochrome, contributing to its standing as one of the largest manganese ore producers in India.