HCL had applied for the mining lease for Badia, but obviously didn't get it. This is from HCL documents when they applied for the Badia lease "(v) Mining Lease application submitted for Badia & Pathargora areas has been modified and applied to cover the area of Pathargora Intervening Block and Dhobani as well." HCL also applied for the Rakha lease and Kendadih lease renewal.
(iv) Kendadih Mining Lease renewal and Rakha Mine execution of Lease Deeds are in advance stage of clearance with the Govt of Jharkhand. The case for second stage forest clearance for Kendadih mine is with Ministry of Forest & Environment, Govt. of India, New Delhi.
Hopefully IRL will be awarded the Badia Mining lease.
IRL Price at posting:
0.3¢ Sentiment: Buy Disclosure: Held