Nearly 70 percent of NMDC's sales came from Chhattisgarh mines in FY19
Shares of National Mineral Development Corporation (NMDC) dropped more than 6 percent intraday on June 13 after the Chhattisgarh government asked the state-run company to disband iron-ore mining in Bailadila hills.
The decision comes after thousands of tribals staged protest in NMDC’s Bacheli-Kirandul complexes, under the banner of the Sanyukta Panchayat Samiti.
Nearly 10,000 tribals resorted to indefinite strikes demanding a ban on mining in the hill (reserve) that houses their deity.
The operations in the mines have now been shut for a couple of days. Nearly 70 percent of NMDC's sales came from Chhattisgarh mines in FY19.At 1029 hrs, NMDC was quoting Rs 101.60, down 5.37 percent on the BSE.The Great Diwali Discount!
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