Sesa Sterlite surges over 4% as government revokes mining suspension in Goa

MUMBAI: Shares of Sesa Sterlite surged as much as 4.63 per cent in early trade after environment minister Prakash Javadekar announced revoking a September 2012 order suspending environmental clearances to all mining leases operating in Goa.

Javadekar has reinstated environmental clearances for 72 mines, industry executives told ET. But these mines may not necessarily be the same 89 mining leases that the state government has renewed, they said.

Sesa Sterlite, which earlier had a permissible output limit of 14 million tonnes a year will now be permitted to mine 7 MT annually.