Small-cap Mining Company Allocated Additional 0.5041 MTPA Iron Ore Production for FY2025-26, Raising Total to 4.3141 MTPA
On YTD basis the stock price has gained 19.91 per cent while in last 12 months it is up by 3.36 per cent.
Sandur Manganese & Iron Ores Limited (SMIORE) has announced the receipt of the allocation of Maximum Permissible Annual Production (MPAP) from the Monitoring Committee constituted by the Hon'ble Supreme Court of India. The received MPAP amounts to 0.5041 Million Tonnes Per Annum (MTPA) of silicious hematitic ore. This is in addition to the already approved 3.81 MTPA, and this new allocation is for the remaining 11 months of the financial year 2025-26.
This development follows the company's earlier communications regarding the enhancement of the Permissible Annual Production limit from the Central Empowered Committee (CEC) as communicated on 1 January 2025, and the grant of Consent for Operation Expansion (CFO-Expand) from the Karnataka State Pollution Control Board (KSPCB) on 30 April 2025. These approvals had increased the permissible annual production limit for iron ore from the current 3.81 MTPA to 4.36 MTPA, representing an increase of 0.55 MTPA. The current allocation of 0.5041 MTPA is for the left out period of the financial year 2025-26.
DSIJ offers a service 'Pop Scalper" with recommendations for scalping profit from index option based on research and analysis to help subscribers make healthy profits. If this interests you, download the service details pdf here
The latest available Quarterly Results for Sandur Manganese & Iron Ores Limited are for the quarter ended December 31, 2024. The company reported a total income of Rs 482 crore, a significant increase compared to the Rs 153 crore in the same previous quarter. The net profit for the quarter stood at Rs 127 crore, also a substantial rise from the Rs 10 crore reported in the December 2023 quarter.
Sandur Manganese & Iron Ores Limited is primarily involved in the mining of manganese and iron ores in the Hosapete-Ballari region of Karnataka. They are one of the largest private-sector miners of low-phosphorous manganese ore in India, which is essential for the production of ferroalloys and steel. Additionally, the company operates a ferroalloy plant producing silico-manganese and ferro-manganese, as well as a coke and energy plant located in Vyasankere, near Hospet.
Disclaimer: The article is for informational purposes only and not investment advice.