Orissa Minerals Development Company Ltd, a step-down subsidiary of Rashtrya Ispat Nigam Ltd, informed the BSE that the company has got environment clearance from the Union Ministry of Environment and Forests on July 24 for its Kolha-Roida iron ore and manganese mines in Odisha.
The company plans to resume production of 3 million tonnes per annum (mpta) of iron ore and 0.24 mpta of manganese ore at the Kolha-Roida mines complex, spread over 254.952 hectares.
Public sector engineering company Hindustan Steelworks Construction Ltd has already been assigned the contract mining job for the complex.
The Rs 10 OMDC stock hit the 20 per cent upper circuit at Rs 36,377 a share after the announcement on Wednesday.