Hindalco jumps 5% after Jharkhand allows mining in Hisri

NEW DELHI: Shares of Hindalco jumped over 4 per cent in Friday's trade after the Jharkhand government said it would soon allow the company to commence mining in Hisri. Reacting to the development, the scrip climbed 5.32 per cent to hit a high of Rs 79.05 on the BSE.

An official of the state government said Hindalco could start mining operations in Hisri after paying Rs 3 crore to the government. The state government was directed by the high court to issue an order on the Hisri mines.
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The government had ordered the closure of five bauxite mines belonging to company back in September 2014 as part of its drive to crack down on mines running on temporary or deemed leases.