Sesa Sterlite gains on talk of govt revoking mining ban in Goa

Shares of Sesa Sterlite were up 2.5% at Rs 198 on reports that the Centre has revoked its earlier ban on all environmental clearances of mines in Goa.

“The Ministry of Environment, Forest and Climate Change withdrew the suspension of ECs. The mining industry will resume operations immediately now,” said Goa chief minister Laxmikant Parsekar, according to a report by the Press Trust of India.

The Chief Minister also said that the suspension has been lifted on 72 of the total 89 approved mining leases in Goa adding the remaining ones are within the one-kilometre radius of wildlife sanctuaries, the report added.

The stock opened at Rs 201 and touched a high of Rs 202. Till 2:15PM, over 5.4 million shares were traded on both the stock exchanges.