Posted in | News | Bauxite | Alumina

NALCO Receives Forest Clearance Permits for Bauxite Mining

The National Aluminum Company Ltd (NALCO) has obtained the final forest clearance permit for bauxite mining in the Indian state of Orissa. The renewal of its bauxite mining lease for the Panchpatmali South Block in Koraput district of Orissa for 20 more years required the diversion of 110.3 hectares of forest land.

The original mining lease was for a period of 30 years in the area. The approval will now allow NALCO to continue with various expansion projects in the area which will in turn help improve the production capacity of the company.

The forest approval needed to come from the Center and the Orissa government had applied for the same in accordance with the Forest Conservation Act of 1980. The Ministry of Environment and Forests considered the proposal of the Forest Advisory Committee constituted by the central government before giving approval for the diversion subject to some conditions being fulfilled.

These include that the company has to take up certain measures along with the Orissa government for afforestation on degraded forest land and prepare a plan to wean away the practitioners of ecologically destructive jhum cultivation (slash and burn agriculture) in the vicinity of the forest land being diverted, as well as provide funds for its implementation.

NALCO was trading with volumes of 604,530 shares, compared to its 5-day average of 245,411 shares, an increase of 146.33%. The shares of the company closed up 0.43% or Rs 0.35 at Rs 80.95.

Joel Scanlon

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Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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