ACC Resumes Limestone Mining Operations at Bargarh

ACC Resumes Limestone Mining Operations at Bargarh
New Delhi: Cement major ACC Ltd has resumed limestone mining operations at Bargarh, Odisha, after about nine months.

"The Company has resumed limestone mining operations at Bargarh with effect from June 17, 2015," ACC informed the BSE on Wednesday.

ACC stopped mining at Bargarh in October following a government notice to suspend operations at this plant.

The company stopped clinker production at Chaibasa, Jharkhand, and Bargarh plants but continued operations of cement grinding units associated with these plants.

"The impact of the closure was not material since cement grinding continued with transfer of clinker from sister works/purchase of clinker," ACC said.

The company resumed limestone mining operations at its captive mines of Chaibasa plant following terms of the Mines and Minerals (Development and Regulation) Ordinance 2015.

State governments were issued orders to stop mining following a Supreme Court judgement in the matter of Goa Foundation versus Union of India and Others and in Common Cause versus Union of India on deemed renewal of mining leases and subsequent amendment to The Mineral Concession Rules 1960.

This judgement affected mining activity of all leaseholders whose mines are on deemed renewal.

As of 1:56 p.m., shares in ACC were trading 1.01 per cent higher at Rs 1400.85 apiece on the BSE.