Midwest Limited has informed the Exchange about receiving a Quarry Lease Work Order from the Department of Mines & Geology, Government of Andhra Pradesh for extraction of Coloured Quartzite Blocks for a period of 30 years.
MIDWESTLTD · price
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Midwest Limited has received a quarry lease work order from the Department of Mines & Geology, Government of Andhra Pradesh. The lease covers 21.012 hectares (51.92 acres) in Hanumanthunipadu Village, Prakasam District, for extracting coloured quartzite blocks used in cutting and polishing. The estimated marketable reserves stand at 609,620 cubic meters. The lease runs for 30 years, from 6 January 2026 to 5 January 2056, subject to statutory approvals and compliance. The order is domestic, and there is no related party interest in the awarding entity.
This secures long-term access to a raw material source for three decades, which could support Midwest's mining operations and future revenue streams, though actual financial impact will depend on extraction volumes, commodity prices, and related costs.