The CAG report says average return on Goa's investment in statutory corporations, government companies, joint stock companies and co-operatives was only 0.17% during last five years
Gujarat Mineral Development Corp generated revenues of Rs400.65 crore from its lignite mining operations and Rs19.41 crore from bauxite mining during the first quarter
Ahmedabad: State-run Gujarat Mineral Development Corporation (GMDC) reported 11.4% jump at Rs170.51 crore in its net profit for the quarter ended June, reports PTI.
The company's profit in the corresponding period last year was Rs153.11 crore, an official statement said.
Backed by good mining practices, the company's turnover in the first quater rose by 5.9% at Rs496.53 crore, it said. GMDC's turnover stood at Rs468.78 crore in the corresponding period a year ago.
The company has generated a revenues of Rs400.65 crore from its lignite mining operations and Rs19.41 crore from bauxite mining, the statement said.
Focussing on the value addition, GMDC has set up projects in collaboration with the private sector mineral players.
Gujarat Credo Mineral Resources Ltd is the new joint venture (JV) of GMDC that will focus on manufacturing of Zeolite from bauxite, it said.
Likewise GMDC's JV with Navin Fluorine Ltd shall focus on value-addition to fluorspar at Kadipani Fluourspar Mines, the statement said.
GMDC has set up a 5 MW solar power plant at Panandhro mines, on the mined out reclaimed area there. It has commissioned 100.5 MW wind power and targets to add another 50 MW by October 2012.
Exports during the April-June quarter dipped by 1.7% to $75.2 billion from $76.5 billion a year ago