Sandur Manganese & Iron Ores Limited (SMIORE) has achieved a significant milestone in its infrastructure development plans. The company has received final approval from the Ministry of Environment, Forest and Climate Change (MoEF&CC) for the diversion of 2.43 hectares of forest land in the Deogiri Swamimalai Forest Block, located in Sandur Taluk, Bellary District, Karnataka.

Key Highlights

• Approval Purpose: The forest land diversion is approved for establishing a Downhill Conveyor Pipe System (DCS).
• Project Details: The DCS will connect the Kammathuru Iron Ore Mine (ML No. 2678, Old No. 2580/1179) to the PMBR (BMM) siding.
• Approval Date: The MoEF&CC granted the approval under Section 2(1)(ii) of the Van (Sanrakshan Evam Samvardhanam) Adhiniyam, 1980.

Implications and Next Steps

The approval marks a crucial step forward for SMIORE's operational efficiency. The Downhill Conveyor Pipe System is expected to streamline the transportation of iron ore from the Kammathuru mine to the siding, potentially reducing costs and environmental impact associated with traditional transportation methods.

Neha Thomas, Company Secretary & Compliance Officer of SMIORE, stated that the company will now approach the Department of Forests & Environment, Government of Karnataka, to execute a Forest Lease Agreement in accordance with the applicable provisions.

About Sandur Manganese & Iron Ores Limited

SMIORE is an ISO 9001:2015, ISO 14001:2015, and 45001:2018 certified company with a strong presence in the manganese and iron ore sector. The company's operations span across various locations in Karnataka, including:

• Registered Office in Sandur, Ballari District
• Corporate Office in Bengaluru
• Mines Office in Deogiri, Sandur Taluk
• Metal & Ferroalloy Plant in Vyasankere, Hosapete Taluk, Vijayanagara District

This latest approval aligns with SMIORE's commitment to sustainable growth and operational excellence in the mining sector.

Sandur Manganese & Iron Ores has implemented its latest bonus share issue, marking a significant event for its shareholders. The company's shares began trading on an ex-bonus basis, reflecting the 2:1 bonus ratio announced earlier.

Bonus Issue Details

• Ratio: Shareholders receive two bonus shares for every one share held
• Eligibility: Shareholders on the record date qualify for the bonus issue
• Price Adjustment: Share price adjusts proportionally to maintain total value

Recent Performance

Historical Context

This bonus issue represents the second such corporate action by Sandur Manganese & Iron Ores in the past two years. The company previously issued bonus shares at a 5:1 ratio, demonstrating a consistent approach to rewarding its shareholders.

Impact on Shareholders

The bonus issue effectively increases the number of shares held by existing shareholders without any additional cost. While the number of shares increases, the proportional ownership in the company remains unchanged. The share price adjusts accordingly to reflect the increased number of outstanding shares, ensuring that the overall value of a shareholder's holding remains constant.

Market Implications

Bonus issues are often viewed positively by the market as they suggest that the company is confident in its financial position and future prospects. For Sandur Manganese & Iron Ores, the recent price performance indicates a positive sentiment among investors, with the stock showing gains both in the short term and year-to-date.

Investors and market participants will likely monitor the stock's performance in the coming days to gauge the market's reaction to this corporate action and assess any potential impact on trading volumes and liquidity.