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MOIL has informed the exchanges that the Ministry of Environment, Forests and Climate Change vide letter dated July 31, 2015, has granted the company environmental clearance for opening a new mine in Nagpur. “As per the approved mining plan, total 5.27 lakh tonnes of total reserves and resources are expected. Further, production of about 40,000 tonnes per annum is expected from this area. The anticipated life of the mine based on the available, proven and probable resources, is 10 years. However, the same will increase after subsequent exploration during the ensuing mining plan period," the statement added. MOIL will now take necessary steps to execute a mining lease with the Maharashtra Government. Shares of MOIL closed at ₹239.05, up 0.8 per cent on the BSE.
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