Sandur Manganese & Iron Ore (SMIORE) shares surged 4% after securing approval from the Central Empowered Committee (CEC) of India’s Supreme Court to increase its iron ore production limit. The company’s Mining Lease No. 2678 will now have a Permissible Annual Production (PAP) limit of 4.36 Million Tonnes Per Annum (MTPA), up from 3.81 MTPA, effective from January 1, 2025.
This approval allows SMIORE to scale up operations and contribute significantly to India’s iron ore supply. The company will now seek further regulatory approvals from the Karnataka State Pollution Control Board (KSPCB) to proceed with the expansion.
Sandur Manganese shares opened at ₹432.00, with a high of ₹439.00 and a low of ₹431.00. The stock has experienced a 52-week high of ₹634.80 and a low of ₹330.00.
As of 9:24 AM, Sandur Manganese shares were trading 3.59% higher at Rs 435.25.
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