Sandur Manganese & Iron Ores Ltd. has been granted consent by the Karnataka Government and the State Pollution Control Board to enhance its production from the mines.
The consent for operation will help the company to enhance the manganese ore production from 0.43 million tonnes per annum currently to 0.55 MTPA, according to an exchange filing on Thursday.
On Sept. 16, the manganese and iron ores producer approved a proposal to raise Rs 1,000 crore through qualified institutional placement. It appointed Krishnendu Sanyal as chief executive officer and Manjunath Prabhu as chief operating officer.
Shares of Sandur Manganese closed 0.61% lower at Rs 488.85 apiece in the BSE, compared to a 0.29% rise in the benchmark Sensex. The stock has risen 82.89% in the last 12 months but fell 0.22% on a year-to-date basis.
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