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SVC Resources Ltd has announced that the Company has acquired exclusive mining operations at Dhamki, Jabalpur district in the state of Madhya Pradesh admeasuring 17.2 Acres through a definitive agreement. The mine consists of reserves of Iron ore in the form of lumps and blue dust, it also has reserves of manganese ore. The Company is confident of exploiting, within 5 years, 30.76 lac tonnes reserves, upto a depth of 27 Meters (as per UNFC classification), which is valued at Rs. 338 crores approx., at current market price, as per approved IBM (Indian Bureau of Mines) Plan. All due permissions for mining are in place and production from the mine is expected to commence within a week time.
The stock closed the day at Rs.150.75, down by Rs.0.45 or 0.30%. The stock hit an intraday high of Rs.153 and low of Rs.150.50.
The total traded quantity was 292394 compared to 2 week average of 352135.