Extension of Chhattisgarh mining leases for 20 yrs to boost NMDC's topline

Analysts said that the extension of the leases was crucial for the company's survival as the Donimalai complex in Karnataka is not operational since the last year

Public sector miner NMDC will be closing 2020 on a cheerful note. 

The Chhattisgarh government extended mining leases of the Bailadila iron ore projects of NMDC for 20 years, that is, upto September 2035.
 
The extension was crucial for the company’s survival. With this development, the company’s top line would increase by around Rs 2,500-Rs 3,000 crore, going by first half realisation, say experts.
 
The company’s stock closed at Rs 119.90, up 2.35 per cent on Wednesday.
 
Analyst said extension of leases is crucial for the company’s survival as the Donimalai complex in Karnataka is not