Godawari Power and Ispat announced that the government of India, ministry of environment & forests & climate change (forest conservation division) has granted its final approval (Stage - II) under section-2 of the Forest (Conservation) Act, 1980 for diversion of additional 32.36 ha forest land for iron ore mining in Village Kachche, Dist: Baster, Kanker, Chhattisgarh, adjacent to the company's existing Ari Dongri Iron Ore mines.

Upon execution of mining lease and commencement of operation in the additional 32.36 ha, the total mining lease area of Ari Dongri Iron ore mines will get expanded from 106.60 ha to 138.96 ha and the production capacity from 0.7 MTPA to 1.405 MTPA which is expected to be executed within next 2-3 months. Post commencement of commercial operation in enhanced mining area, the entire requirement of iron ore of the Company shall be met from captive iron ore mines upon achievement of full production in captive iron ore mines, leading to cost savings.

Shares of the company gained Rs 13.5, or 10.38%, to trade at Rs 143.50. The total volume of shares traded was 92,907 at the BSE (11.22 a.m., Monday).