Adhunik Metaliks, engaged in mining, steel, power, and value added steel products, said Wednesday the company wholly owned subsidiary Orissa Manganese & Minerals (OMML) has been granted extension of lease for their three manganese ore mines (Patmunda, Orahuri & Kusumudhi) till Mar. 31, 2020 under merchant category.
The requisite stamp duty and registration charges have already been deposited to the State Government of Odisha. Patmunda mine has already re-started operation. OMML has requested the Government to extent the lease of these mines for further 10 years under captive clause.
Shares of the company gained Rs 3.1, or 19.75%, to trade at Rs 18.80. The total volume of shares traded was 189,442 at the BSE (11.38 a.m., Wednesday).