GMDC Shares Surge 7% After Major Coal Mine Announcement
The shares of Gujarat Mineral Development Corporation (GMDC) jumped over 7% on December 12, reaching a high of Rs 529.90 apiece, after the company announced a significant milestone in operationalizing the Baitarni-West coal mine.
Expansion of Coal Portfolio
GMDC has acquired three coal blocks in Odisha, with the Baitarni-West coal mine being the most valuable asset due to its large scale and geological potential. This move is expected to strengthen India's energy ecosystem and support the government's vision of Atmanirbhar Bharat.
Project Development and Clearances
The Ministry of Environment, Forest and Climate Change (MoEF&CC) has granted Stage-I Forest Clearance (FC) and Environmental Clearance (EC) for the Baitarni-West Opencast coal mine. These clearances mark significant regulatory progress and enable the project to move forward.
GMDC has awarded operational responsibilities to a mining partner to ensure planned production, reflecting the company's focus on disciplined execution and future-oriented growth.
Market Performance
GMDC shares have had a mixed performance recently, falling nearly 13% in the past month but gaining over 28% in the past six months. The stock is up more than 60% in 2025 so far, with a P/E ratio of around 24.
- The Baitarni-West coal mine is expected to produce 15 MTPA of coal.
- GMDC aims to build a balanced, diversified, and future-ready mining portfolio.
- The company remains focused on efficient project development and sustainable value creation.
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