Pace Textiles has announced that the company has acquired a mine located at Kodamukur, at Jabalpur district, in the state of Madhya Pradesh measuring 17.008 hectares through a definitive agreement. The mine consists of reserves of iron ore in the form of lumps and blue dust. It also has reserves of manganese ore and high quality quartz. The mineable reserve as per approved IBM (Indian Bureau of Mines) Plan is valued at Rs 260 crore approximately at current market prices. The company is confident of exploiting the full reserve in the next six years. All due permissions for mining are in place and production from the mine has started.
Source :www.biginfotech.in
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