On Monday, December 1, shares of South West Pinnacle Exploration traded at Rs 224, up 5.81% in the morning session, after the company announced that it has officially been notified as an accredited prospecting agency under the Mines and Mineral (Development and Regulation) Act, 1957.
The accreditation was issued by the Ministry of Coal and published in the Gazette of India on 26 November 2005, enabling the company to undertake full-scale prospecting and exploration activities for coal and lignite.
With this approval, SWPE can now begin detailed exploration work, geological report preparation, mining plan formulation and related approvals for the Jogeshwar and Khas Jogeshwar coal blocks in Jharkhand. These blocks, which are partially explored, had been awaiting a formally recognised exploration agency before further progress could be initiated.
The Ministry’s notification clears the way for early-stage development of these coal blocks. By allowing accredited agencies like SWPE to begin work, the government aims to fast-track exploration timelines, reduce administrative delays, and enable quicker commencement of coal mining activities, a key requirement for ensuring adequate coal supply for India’s energy needs.
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