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Systematix Research Report
Lloyds Metals and Energy Ltd. was set up in the 1970s by a Gupta family who now retains about 37% stake in the company. The company has an iron ore mining lease on more than 348.09 hectares at Surjagarh village in Gadchiroli district, Maharashtra.
Although the mining lease was signed in 2007, it could commence mining only in July 2021, hampered by various issues.
The lease was signed under the previous allocation, but post the new Mines and Minerals (Development and Regulation) Amendment Act 2015, premium is not payable, with the lease now valid up to 2057.
The mine currently has an EC limit for three million tonne of annual output. In 2020, Lloyds Metals and Energy appointed Thriveni Earthmovers as its mine developer and operator, and subsequently inducted it as a copromoter with equal stake. Thriveni currently conducts mining operations across India.
Lloyds Metals and Energy also has a direct reduced iron plant at Chandrapur, Maharashtra with a capacity of 270 thousand tonnes, along with a captive 30 mega watt power plant. It is also setting up additional 72 kt DRI plant at Gadchiroli.
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