GMDC shares jump 7% on Baitarni-West coal mine clearances

• GMDC shares jumped over 7% after receiving clearances for the Baitarni-West coal mine in Odisha.
• The company announced a "giant leap" towards operationalizing the Baitarni-West coal mine, deemed its most "value-accretive" asset.
• The Ministry of Environment, Forest and Climate Change (MoEF&CC) granted Stage-I Forest Clearance and Environmental Clearance for the mine.
• The 15 MTPA Baitarni-West coal mine aims to strengthen India’s energy ecosystem, with GMDC awarding operational responsibilities to a mining partner.
• This development supports GMDC’s objective of building a diversified mining portfolio and enhancing long-term value.

Why It Matters: GMDC's coal mine approval enhances its growth and India's energy self-sufficiency.