Shares of Godawari Power & Ispat Ltd. declined nearly 2% after the company announced the temporary suspension of mining activities at its Boria Tibu Iron Ore Mines in Rajnandgaon, Chhattisgarh. The suspension, effective from April 1, 2025, follows the expiration of the mining plan approval from the Indian Bureau of Mines (IBM) on March 31, 2025.
The company has already applied for the renewal of the mining plan and expects approval within the next 10 days, after which mining operations will resume. A formal update will be provided once the approval is secured and operations recommence.
Despite the temporary halt, Godawari Power assured investors that there would be no significant financial impact. The Boria Tibu Iron Ore Mines have an annual rated capacity of 7,05,000 tons per annum (TPA) under the previous mining plan. However, the company emphasized that the mines’ contribution to overall profitability has been minimal due to high operational costs.
Shares of Godawari Power & Ispat Ltd opened at ₹191.50 but saw a dip, hitting a low of ₹186.00. The stock’s 52-week high stands at ₹253.40, while its 52-week low is ₹145.75.
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